Japanese auto stocks fell sharply after new U.S. tariffs against Mexico, Canada and China raised concerns about their U.S. sales of cars made in the North American trading partners and a further escalation in trade conflicts.

China's finance ministry said it would impose levies of 15% for U.S. coal and 10% for crude oil, farm equipment and some cars.

China on Tuesday imposed tariffs on some U.S. imports in a swift response to new U.S. duties on Chinese goods, raising the stakes in a showdown between the world's top two economies even as President Donald Trump offered reprieves to Mexico and Canada.