China to impose $34bn tariffs before the US as trade dispute escalates

Both sides made 6 July tariff threat but 12-hour time difference gives Chinese edge

China is poised to fire the opening salvo in an escalating trade dispute with the US by bringing in 25% tariffs on $34bn (£26bn) of American goods, a day earlier than Washington.

Both sides have threatened to impose similarly sized tariffs on 6 July, but because of the 12-hour time difference, the Chinese tariffs on US imports ranging from soybean to stainless steel pipes will take effect earlier.

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Read the original at Economics | The Guardian.