Trump announces $50bn in China tariffs despite retaliation warning

  • President told Fox he was ‘very strongly clamping down’
  • Beijing describes course of ‘confrontation and mutual loss’

Donald Trump has announced a 25% tariff on $50bn of Chinese goods, escalating trade tensions a day after Beijing officials warned China was preparing to retaliate.

Related: US-China trade tensions escalate as Trump approves $50bn of tariffs – business live

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Read the original at Economics | The Guardian.