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Seven days: 22 June 2018

Seven days: 22 June 2018

Trump retaliation

The trade tit-for-tat between the US and the People’s Republic continued to spiral this week, with Donald Trump threatening to slap 10 per cent tariffs on an additional $200bn (£151m) of Chinese goods. That followed Chinese threats to enforce tariffs on 659 US products. The Chinese commerce ministry responded to this latest announcement by accusing the US of “blackmail” and said it would “fight back firmly” against the additional measures. The dispute was sparked when Mr Trump announced plans to impose levies of 25 per cent and 10 per cent on Chinese steel and aluminium, respectively, in March.

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