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The Guardian - UK
The Guardian - UK
World
Heather Stewart and Amy Hawkins

China hits back hard at ‘bullying’ Trump tariffs as global recession fears grow

ING Donald Trump China United States Recession Jerome Powell United Kingdom Kristalina Georgieva Rachel Reeves Beijing
Cars for export at a port in Yantai, in eastern China's Shandong province
China has announced retaliatory tariffs of 34% on all imports from the US. Photograph: AFP/Getty Images

China has hit back hard against Donald Trump’s “bullying” tariffs, raising fears that the escalating trade war could trigger a global recession and prompting fresh turmoil in financial markets.

Beijing retaliated on Friday with punitive 34% additional tariffs on all goods imported from the US – mirroring the US decision and exacerbating a sell-off on global stock markets.

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