Donald Trump warned that he was prepared to impose tariffs on imports from China worth as much as
$500bn as the US fired its biggest shot so far in the accelerating trade war between the world's
two largest economies.
Coming only hours before US customs officials were due to begin collecting 25 per cent tariffs on
818 different products worth $34bn in annual imports from China, the US president's comments
highlighted the escalating economic consequences of the trade fight between Washington and Beijing.
The US president reiterated plans for a further $16bn in trade to be targeted in the coming weeks
and for far larger actions beyond that. He also repeated a warning that the US had plans "in
abeyance" for a further $200bn in Chinese imports should China retaliate against the new US tariffs
- something Beijing is expected to do within hours of the new tariffs taking effect on Friday.