China hits back in trade war with US

CHINA unveiled plans to slap punitive tariffs on imports from the US yesterday as fears of an allout trade war between the world’s two biggest economies intensified.

Beijing said it would impose a 25 per cent tax on 106 American products entering China including soya beans, cars, planes, orange juice, whiskey, beef and chemicals.

The move came hours after President Donald Trump outlined plans to increase levies on 1,333 Chinese products shipped to the US.

‘As the Chinese saying goes, it is only polite to reciprocate,’ China’s US embassy said.