US sets 25% China tariffs

DONALD Trump has put 25% tariffs on hundreds of Chinese products worth tens of billions a year.

The US President said levies affecting 800 goods worth £25billion will take effect on July 6 and he will consult on tariffs on a further £12billion of goods.

Mr Trump said the move “will protect American jobs”. China had earlier warned it would hit back if he imposed the tariffs.

The IMF warned that a trade war could have a “serious” impact.