Higher China tariffs come into effect as talks continue
Damaging trade war could destabilise the already slowing global economy
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The US on Friday hiked tariffs on $200bn worth of Chinese goods, prompting Beijing to promise retaliation and escalating the chances of a full-blown trade war between the world’s two economic superpowers.
At 12:01am on Friday in Washington, tariffs on Chinese goods were raised to 25% from 10%, after last-minute talks in Washington between Chinese vice premier Liu He and US trade representative Robert Lighthizer on Thursday failed to salvage months of talks on a deal.