China retaliates, slaps duties on U.S. soybeans, planes; markets skid
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Beijing/Washington | Reuters — China quickly hit back on Wednesday at Trump administration plans to slap tariffs on US$50 billion in Chinese goods, retaliating with a list of similar duties on key U.S. imports including soybeans, planes, cars, whiskey and chemicals.
The speed with which the trade struggle between Washington and Beijing is ratcheting up — the Chinese government took less than 11 hours to respond with its own measures — led to a sharp selloff in global stock markets and commodities.
Investors are wondering whether one of the worst trade disputes in many years could now turn into a full-scale trade war between the world’s two economic superpowers. Read more
