Trade Wars: Trump loads decisive volley against China

 | Heather Scott with Ryan McMorrow
 07/06/2018 10:10 AM MDT
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Credit: Wikipedia Commons

Washington (AFP) - Steep American tariffs on Chinese goods worth tens of billions of dollars are due to take effect at midnight Thursday, as US President Donald Trump fires the decisive salvo in a trade war between the world's top two economies.

Beijing has vowed to retaliate dollar-for-dollar, "immediately" imposing counter-tariffs on American exports despite warnings the burgeoning conflict will send shockwaves around the global economy and strike at the heart of the world trading system.

En route to Montana aboard Air Force One on Thursday, President Donald Trump erased any hope of a last-minute change, confirming the China tariffs would indeed kick in at the stroke of midnight.

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