Round-II of US, China tar­iff war es­ca­lates

India Business Journal - - GLOBAL WRAP-UP -

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.

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