Global markets fall as China hits back at US with new import tariffs
by Larry Elliott and Rupert Neate from Economics | The Guardian on (#4F12B)
World markets hit by further losses on Tuesday in wake of Beijing's retaliatory tariffs on US imports worth $60bn
World markets plunged further on Tuesday following heavy losses on Wall Street after China delivered a swift rebuff to Donald Trump by imposing retaliatory tariffs on $60bn of US imports.
Beijing ignored warnings from Trump about the dangers of escalating the trade conflict and sent tremors through global markets by announcing a new 25% import duty on a range of US products.
Related: US-China trade deal: Donald Trump insists there's no rush to secure deal
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