China announces an 84% tariff on US imports, to take effect on Thursday, after Donald Trump imposed a 104% tariff on Chinese goods entering the US
The Chinese tariff is an increase from the 34% it already imposed on American imports – China is not backing down, writes our correspondent in Beijing, Stephen McDonell
As China announced its retaliation, Trump urged companies to relocate to the US, writing: “Don’t wait, do it now!”
Meanwhile, the EU has voted to impose tariffs on some US imported goods from 15 April – more goods are due to be hit in May and December
Trump says countries hit by his tariffs are calling up and “kissing my ass” in a bid to negotiate, as he tells the US to “be cool” as “everything will work out”
Markets tracker: US markets see mixed trading at opening, while European markets drop further. Meanwhile, investors are selling their long term US government bonds – traditionally considered a “safe haven” asset
