A Boeing jet earmarked for China was returning to the United States on Friday, flight tracking data showed, as the planemaker's flagship delivery plant outside Shanghai was drawn into a deepening tariff war between Beijing and Washington.

China, which has vowed to fight Trump's protectionist measures, faced even higher levies after it imposed retaliatory tariffs. Now the US and China are locked in a trade war, with US goods hit with 125% tariffs, and Chinese goods looking at 145% .

China has appointed a new trade negotiator in the midst of its tariff fight with the United States as the world’s two largest economies steadily increase tariffs on each other’s goods.

Japan recorded a trade deficit for the fiscal year that just ended but racked up a $63 billion surplus with the United States

President Donald Trump touted "big progress" in tariff talks with Japan on Wednesday, in one of the first rounds of face-to-face negotiations since his barrage of duties on global imports roiled markets and stoked recession fears.

Ahead of a trade meeting, President Donald Trump said "trade fairness" and the "cost of military support" were both on the table.