China announces tariff hike on $75 billion of US products

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China announces tariff hike on $75 billion of US products
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China announces tariff hikes on $75B of US products in retaliation for President Trump's planned increase, deepening a trade war that threatens to tip the global economy into recession

China on Friday announced tariff hikes on $75 billion of US products in retaliation for President Donald Trump's planned increase, deepening a trade war that threatens to tip the global economy into recession.

It gave no details of what goods would be affected but the timing matches Trump's planned duty hikes. China's government appealed to Trump this week to compromise in order to break a deadlock in negotiations.

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