Donald Trump’s administration on Friday imposed new tariffs on $34bn of annual imports from China as the US president threatened to extend levies to all $500bn of goods imported from the country, the biggest shot so far in the trade war between the world’s two largest economies.
Mr Trump’s comments during a visit to the state of Montana — coming only hours before US customs officials began collecting 25 per cent tariffs on 818 different Chinese products from midnight Washington time on Thursday — highlighted the escalating economic consequences of the trade fight between the US and China.
China’s ministry of commerce confirmed that the latest tariffs had come into effect. “This act is typical trade bullying,” the ministry said on its website. “It seriously jeopardises the global industrial chain . . . hinders the pace of global economic recovery, triggers global market turmoil and will affect more innocent multinational companies, general companies and consumers.” It added that the tariffs would also harm the interests of American businesses and people.