China targets US imports worth $50bn in tit-for-tat move
China on Wednesday announced an additional 25% tariff on US imports worth $50 billion in response to proposed US tariffs on over 1,300 Chinese goods. The tariff will be imposed on 106 US products including automobiles, chemicals and aircraft. The Chinese envoy to the World Trade Organisation (WTO) called US' move intentional and gross violation of the WTO's fundamental principles.