The trade war between the US and China has just intensified with both economic superpowers slapping fresh tariffs on each other’s goods today.
US tariffs on $200bn worth of Chinese goods and retaliatory tariffs by Beijing on $60bn worth of US products took effect as of 0401 GMT. The two countries have already slapped tariffs on $50bn worth of each other’s goods earlier this year.
Chinese products hit with new duties include vacuum cleaners to internet-connected devices, while US goods targeted by Beijing include liquefied natural gas and certain types of aircraft.
China’s state council will publish a white paper at 1 pm local time on the trade frictions with the United States, the official Xinhua news agency reported.
Over the weekend, Beijing had also rejected Washington’s invitation to restart trade talks and it’s not clear when both sides will meet next.