Southeast Asian stock markets fell on Tuesday, in line with Asian peers, after U.S. President Donald Trump said he will impose tariffs on an additional $200 billion worth of Chinese imports, escalating the trade conflict between the world’s two largest economies, Reuters reports. In response, China has announced tariffs of between five and 10 per cent will take effect on some 5,200 US products worth $60 billion on Monday, on the same day as the new US duties. Tech tycoon Jack Ma told investors to hunker down for a drawn out trade war between the US and China, arguing that the war could persist for 20 years.