US-China trade war begins as Beijing strikes back with tariffs on US$34 billion worth of America goods

After three rounds of failed talks, a trade war between the world’s two largest economies is on.
On Friday, China’s Ministry of Commerce said 25 per cent tariffs on American goods worth about US$34 billion would come into force.
The tariffs were in response to Washington’s decision to impose 25 per cent duties on a similar amount of Chinese imports, which also came into effect on Friday.
US President Donald Trump had threatened to target another US$400 billion in Chinese…

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