China prepares to impose tariffs on $34bn of US goods – business live

All the day’s economic and financial news, as Beijing readies tariffs on $34bn of US imports as the trade dispute with the US deepens

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Chinese tariffs on $34bn of U.S. goods will take effect from midnight July 6 Beijing time, a person with knowledge of the plan told Reuters, amid worsening trade tensions between the world’s two largest economies.

Washington has said it would implement tariffs on $34billion of Chinese imports on July 6, and Beijing has vowed to retaliate on the same day.

Its Game On… #CHINA TO IMPLEMENT #TARIFFS ON $34 BLN WORTH OF #US GOODS FROM MIDNIGHT BEIJING TIME JULY 6 – SOURCE

European Opening Calls:#FTSE 7579 -0.19%#DAX 12315 -0.28%#CAC 5303 -0.25%#MIB 21739 -0.11%#IBEX 9634 -0.28%

Even if service sector activity is stronger than forecast, it may fail to capture investors’ attention for any significant amount of time. Brexit will be firmly back on the agenda, with the Prime Minister due to hold talks at the Chequers residence this weekend, in the hope of finding a solution to the customs partnership with the EU post Brexit.

Theresa May has made a series of pleas to her bickering party to sort out their differences and to the EU, not to decline the third proposal.

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Read the original at Economics | The Guardian.