Updated: China hits back with retaliatory tariffs on US products

After US president Donald Trump issued executive orders to place 25% tariffs on Mexican and Canadian imports (now delayed) and 10% on Chinese goods (starting February 4); China has now retaliated with tariffs on US coal, gas, crude oil and more.

After weeks of speculation, US president Donald Trump, on Saturday February 1, placed sweeping tariffs on Mexican, Chinese and Canadian goods entering the US. The tariffs begin on Tuesday, February 4, and will likely spark a global market sell-off and investors fear the start of a global trade war. 

However, overnight Trump has since delayed the tariffs on Mexico and Canada by a month, after the leaders of both countries agreed to step up preventing the trafficking of fentanyl across the borders of the US. Mexico president Claudia Sheinbaum has agreed to send 10,000 soldiers to the border, while Canada's prime minister Justin Trudeau agreeing to appoint...

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