FTSE 100 and Dow Jones fall after US president rattles investors by targeting China, Canada and Mexico

• Trump tariffs live – latest updates

Global stock markets suffered heavy falls after Donald Trump signed off on new US tariffs on China, Canada and Mexico, prompting fears of a global trade war.

Markets recovered some of their losses early on Monday after it emerged that the US president had agreed to delay new duties on goods from Mexico, sparking hopes of a reprieve.