Asia markets pared earlier losses but still saw declines on Tuesday as the U.S.-China trade war intensified, after Beijing confirmed it is suspending agricultural product purchases in response to new American tariffs.

President Donald Trump said last week the U.S. is putting 10% tariffs on another $300 billion worth of Chinese goods starting Sept. 1.

Shares in mainland China slipped on the day: The Shanghai composite shed 1.56% to about 2,777.56 while the Shenzhen component fell 1.39% to 8,859.47. The Shenzhen composite tumbled 1.777% to approximately 1,490.30.

In Hong Kong, the Hang Seng index slipped 0.67% to close at 25,976.24, after earlier dropping more than 2%.

Japan's Nikkei 225 fell 0.65% on the day to 20,585.31 while the Topix index declined 0.44% to end its trading day at 1,499.23.

In South Korea, the Kospi shed 1.51% to close at 1,917.50, Australia's S&P/ASX 200 slipped 2.44% to finish its trading day at 6,478.10.

The MSCI Asia ex-Japan index declined 0.79%, as of 4:15 p.m. HK/SIN.

The Tuesday session in Asia followed overnight declines on Wall Street, where the Dow Jones Industrial Average plunged more than 700 points, the S&P 500 dropped nearly 3% and the Nasdaq Composite fell 3.5%. It was the worst percentage drop for all three indexes this year.