WASHINGTON: President Donald Trump's latest round of punitive tariffs on China took effect on Monday, adding $200 billion in Chinese imports to the escalating trade war that is clouding the global economic horizon. "These practices plainly constitute a grave threat to the long-term health and prosperity of the United States economy," he said in announcing the tariffs last week. But Trump warned he could ramp up to "phase three," slapping tariffs on approximately $267 billion of additional imports, or the entirety of the goods the US buys from China. Meanwhile, Fitch Ratings has cut its growth estimates for China and the world for 2019. - Hit list -The latest round of Chinese imports will face 10% tariffs through the end of the year, and then the rate will jump to 25%.

Source: Bangkok Post September 24, 2018 04:45 UTC