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Trade war: US, China levy tit-for-tat import tariff of $16 billion

Chinese exports rise more than expected in July amid escalating trade war

Elias Glenn & Ben Blanchard | Reuters  |  Beijing 

China’s exports surged more than expected in July despite US duties and its closely watched surplus with the US remained near record highs, as the world’s two major economic powers ramp up a bitter dispute that some fear could derail global growth. In the latest move by US President Donald Trump to put pressure on Beijing to negotiate trade concessions, Washington is set to begin collecting 25 per cent tariffs on another $16 billion in Chinese goods on August 23. In a statement on its official website late on Wednesday, China’s commerce ministry criticised the ...

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First Published: Wed, August 08 2018. 23:25 IST
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