US, China trade war escalates

The US and China have escalated their ongoing trade war by implementing new 25 per cent tariffs on billions of dollars worth of imports on both sides.
The world’s two largest economies have now put tariffs on a combined $100bn of products since early July, with the latest imposed after low-level talks in Washington last week.
America’s president Donald Trump had last week imposed $16bn worth of tax on Chinese goods including automobiles, factory machinery and metals.
China had immediately retaliated on the same value of US goods, with its commence ministry describing it as a “necessary counter-attack”.
These will cover US goods such as coal, medical instruments, cars and buses.
China also said it plans to file a fresh complaint against the US’ tariffs at the World Trade Organization.
It first filed a complaint in July after Trump imposed his first round of tariffs.
The fresh tariffs come as officials from both sides met in Washington this week.
The US has also imposed taxes on Mexico, Canada and the EU, all of which have retaliated.
The Chinese foreign ministry said it hoped to reach a good result in trade talks with the US.