Round-II of US, China tariff war escalates
China has hit back at US President Donald Trump by announcing new trade tariffs on $60 billion of US goods. It comes after the US slapped duties on $200 billion of Chinese imports, escalating its trade war with Beijing. China will target goods, such as liquefied natural gas, produced in States loyal to the US president. The latest round of tariffs targeting US and Chinese goods has raised the stakes in an escalating trade war between the world's two largest economies. Contributing to the hostile atmosphere are fresh military tensions. Washington has imposed sanctions on
a Chinese military unit for purchasing Russian weapons, claiming that the transaction violated a US sanctions law.