US hikes tariffs on China goods; Beijing says it will retaliate

Washington

THE US hiked tariffs on more than US$200 billion in goods from China on Friday in the most dramatic step yet of President Donald Trump's push to extract trade concessions, deepening a conflict that has roiled financial markets and cast a shadow over the global economy.

China immediately said in a statement it is forced to retaliate, though hadn't specified how as at 2.20pm in Beijing. The move came after discussions between President Xi Jinping's top trade envoy and his US counterparts in Washington made little progress on Thursday, with the mood around them downbeat, according to people familiar with the talks. The negotiations resumed on Friday morning Washington time.