Donald Trump has threatened to impose tariffs worth hundreds of billions of dollars on Chinese imports to the US as a trade war between the world’s two largest economies began today.
US tariffs on $34 billion of Chinese goods have come into effect.
China retaliated by imposing a similar 25% tariff on 545 US products, also worth a total of $34 billion.
According to BBC News, the US President said America may target Chinese goods worth $500billion – the total value of Chinese imports in 2017.
Beijing accused the US of starting the “largest trade war in economic history” and has lodged a case with the World Trade Organization (WTO).
China’s decision to impose its own tariffs means US goods including cars, soya beans and lobsters are now subject to additional taxes.