Rates on imports to US from dozens of economies rise further, with China hit by 104% tariffs
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The US and China are heading towards an all-out trade war, after Donald Trump unleashed a fresh wave of tariffs against dozens of partners that triggered a fresh day of stock market turmoil on Wednesday.
Despite the market chaos, China’s government was unbowed, reiterating threats of further countermeasures and saying it was unwilling to fight a trade war but “will never sit idly by and watch the legitimate rights and interests of the Chinese people be damaged and deprived”.