(Beijing)

President Trump has just ordered $200 bn of further tariffs to be applied to Chinese goods. The Chinese have responded strongly, vowing to retaliate to the measures. The Chinese government said “We have been stressing that talks need to happen on the basis of parity, equality and good faith … What the US has done shows no sincerity and good faith at all”. The Chinese says they will impose tariffs on $110 bn of US goods, or about 85% of all US imports to the country.

FINSUM: These tariffs come just before the US and China were set to hold another round of trade talks. We have no idea how those are progressing, but this is really going to anger the Chinese.