China has announced it is to impose additional tariffs on US goods.
The tariffs will come into force from tomorrow, China’s finance ministry said.
It means tariffs of 84% will be enforced on US goods – up from the 34% China had previously planned.
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It signals an escalation of the global trade war and comes after the US hit Beijing with an extra 50% tariff this week.
That followed two previous levies of 34% and 20%, meaning US tariffs on China reached 104% from this morning.
Following the imposition of the tariffs, and the new levy on some Chinese imports, the FTSE 100 fell again, wiping out most of Tuesday’s…