Countermeasure: China has announced additional tariffs of 34% on US goods in retaliation to Trump’s levies. — Reuters
BEIJING announced additional tariffs of 34% on US goods, striking back at US President Donald Trump and escalating a trade war that has fed fears of a recession and triggered a global stock market rout that showed no sign of slowing.
In the standoff between the world’s two biggest economies, Beijing also announced controls on exports of some rare earths, while Trump doubled down as well, vowing not to change course.
