New tariffs take effect as China accuses US of 'economic hegemony'

Washington imposes $200bn taxes on Chinese goods, while Beijing targets $60bn of US goods

The United States and China have imposed new tit-for-tat tariffs against each other's goods, the latest escalation in a heated trade war between the world's two largest economies.

US tariffs on $200bn worth of Chinese goods and retaliatory tariffs by Beijing on $60bn worth of US products took effect at 0400 GMT. The two countries already exchanged tariffs on $50bn worth of each other's goods earlier this year.

Even while running for president, Donald Trump waged a war of words against China, promising punitive import tariffs to "bring back" jobs to America.

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