China slaps 84% revenge tariffs on US goods in huge new escalation hours after Trump imposed 104% levy - as global financial markets tank again
Xi Jinping's China will impose a massive 84% tariff on American goods from Thursday, 50% higher than previously announced, in a massive escalation of a global trade war. Financial markets across the world have crumbled since US president Donald Trump announced a massive raft of reciprocal tariffs on 'Liberation Day', in response to what the Republican leader said was exploitation of the US by other nations. Imports to the US from almost all nations on Earth were hit with a baseline 10% levy, with Trump's administration increasing the percentage based on trade deficits.
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