US and China set for trade war as Beijing launches retaliatory tariffs
The FT leads with China’s retaliatory tariffs on the US, which the paper says could set off a “trade war” between the two nations. The new tariffs affect $14bn (£11.3bn) of American exports. “This could become a very, very bad situation,” an expert tells the paper.
Online, the paper reports Donald Trump is to impose a 25% tariff on steel and aluminium imports as Trump expands ‘campaign of trade protectionism to metals sector,’ the paper adds.