Stocks slump – China to impose 34% levy as retaliation – China files lawsuit | US tariffs LIVE
- China says it will impose an additional 34% tariff on US goods from April 10 in retaliation for Donald Trump’s tariffs
- A spokesperson at the Ministry of Commerce says China has also filed a lawsuit with the World Trade Organization (WTO)
- Global markets have dropped for a second day, as Trump’s raft of worldwide tariffs continues to spark fears of a global downturn
- London’s FTSE 100 index falls on opening and follows further declines in the Asian markets overnight
- Trump says his tariffs rollout is going “very well” and the economy is going to “boom”, after US markets closed on Thursday with the biggest one-day loss since the pandemic hit in 2020
- Meanwhile, a treasury minister tells the BBC the UK is working “at pace” to secure a deal on trade with the US
- From Beijing to Brussels, world leaders are vowing to respond to the minimum 10% tariffs on global imports to the US, which are set to come into effect tomorrow
- Higher duties, including 20% on the EU and 54% on China, are due to come into effect from 9 April
