Chinese foreign ministry calls US tariffs 'economic bullying'
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The tariffs are 'a typical act of unilateralism, protectionism, and economic bullying,' said spokesperson Lin Jian. Trump has slapped China, the world's second biggest economy, with additional 34% tariffs, bringing the total new levies on the country this year to 54% and the overall tariff rate to 74%, UBS reported. Trump also closed a trade loophole that had allowed low-value packages from China to enter the US duty-free. FTSE 100 plunges to one-year low amid market turmoil, as Goldman Sachs raises chances of US recession to 45% – business live
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