United States

Trade war: US raises tariffs on $200bn of Chinese goods

The US has more than doubled tariffs on $200bn (£153.7bn) worth of Chinese products, in a sharp escalation of their damaging trade war.Tariffs on those Chinese goods have risen to 25% from 10%, and Beijing has vowed to retaliate.China said it "deeply regrets" the move and will have to take "necessary counter-measures."The move comes as high-level officials from both sides are attempting to salvage a trade deal in Washington.Only recently, the US and China appeared to be close to ending months of hostilities."The US has raised the tariff on $200bn of Chinese exports to the United States from 10% to 25%," China's Commerce Ministry said on its website."It is hoped that the US and the Chinese side will work together ... to resolve exi ...