Trade war: With neither side backing down, Trump eyes higher China tariffs

Trump is eyeing another $16 billion of Chinese goods and suggesting the final total could top $500 billion, more than the US bought in 2017

President Donald Trump threatened to impose tariffs on every single Chinese import into America as the world’s two largest economies exchanged the first blows in a trade war that isn’t set to end anytime soon.

After months of rhetoric, a 25 per cent levy on $34 billion of Chinese goods entering the US took effect just after midnight Washington time on Friday with farming plows and airplane parts among the products targeted. China hit back immediately via duties on US shipments including soybeans and automobiles.

Neither side shows any signs of backing down. Trump is already eyeing another $16 billion of Chinese