World News
Tit-for-tat US-China tariffs─── 08:53 Sun, 17 Jun 2018
Beijing - China’s in-kind response to US President Donald Trump’s announcement of tariffs on $50bn of imports from the nation leaves the global economy on the verge of a trade war.
Bloomberg reports that two detailed lists of products on which tariffs will be collected starting July 6 now form the core of the conflict between the world’s two largest economies.
China’s response, released in detail yesterday, now raises the prospect the US will impose more duties following a pledge from Trump on Friday.
Hours after the US announcement, China’s Finance Ministry issued a list of 545 product categories, also covering about $34bn in exports from the US, to be subject to an additional 25% tariff starting July 6.
Bloomberg