Donald Trump announces 25% tariff on $50bn worth of Chinese imports

Friday, June 15, 2018

The Trump administration has announced a 25% tariff on 50 billion US dollars worth of Chinese imports, escalating a trade dispute between the world's two largest economies.

President Donald Trump has vowed to clamp down on what he calls China's unfair trade practices.

China has said that it will retaliate with 50 billion dollars in tariffs in response, rattling financial markets.

It comes in the aftermath of Mr Trump's nuclear summit with North Korean leader Kim Jong Un and his push for China to maintain economic pressure on the North.

Mr Trump has already slapped tariffs on steel and aluminium imports from Canada, Mexico, Europe and Japan, drawing a rebuke from US allies.