This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.

You can find the current article at its original source at https://www.bbc.co.uk/news/business-45899310

The article has changed 11 times. There is an RSS feed of changes available.

Version 1 Version 2
A quick guide to the US-China trade war A quick guide to the US-China trade war
(25 days later)
The world's two largest economies - the US and China - are locked in an escalating trade battle. The US and China are locked in an escalating trade battle.
US President Donald Trump had been complaining about China's trading practices even before he took office in 2016. US President Donald Trump has complained about China's trading practices since before he took office in 2016.
That year he said China engaged in the "rape" of the US economy, and since then he has aggressively targeted Beijing as part of his broader America First agenda. The US launched an investigation into Chinese trade policies in 2017. It imposed tariffs on billions of dollars worth of Chinese products last year, and Beijing retaliated in kind.
In 2017, the US launched an investigation into Chinese trade policies and has steadily imposed tariffs on Chinese products from this year. After months of hostilities, a breakthrough of sorts came in December. Both countries agreed to halt new trade tariffs for 90 days to allow for talks.
They imposed a deadline of early March to resolve their differences, or the battle may heat up again.
What tariffs are in place?What tariffs are in place?
So far, the US has imposed three rounds of tariffs on Chinese goods, totalling more than $250bn (£191.9bn). They cover a wide range of consumer and industrial items including handbags, rice and railway equipment. So far, the US has imposed three rounds of tariffs on Chinese goods, totalling more than $250bn.
The duties range from 10% to 25%. Mr Trump has since threatened to hit another $267bn worth of goods - meaning all Chinese imports could be subject to tariffs. The duties range from 10% to 25% and cover a wide range of industrial and consumer items - from handbags to railway equipment.
President Trump has threatened tariffs on another $267bn worth of goods - meaning all Chinese imports could be subject to tariffs.
The US has also put tariffs on worldwide imports of goods like steel and washing machines, which further affects products from China.The US has also put tariffs on worldwide imports of goods like steel and washing machines, which further affects products from China.
Beijing has struck back. It's accused the US of starting "the largest trade war in economic history" and imposed tariffs on $110bn worth of American goods. Beijing hit back with tariffs on $110bn of US goods, accusing the US of starting "the largest trade war in economic history".
China's list of products subject to levies - which range from 5% to 25% - includes chemicals, coal and medical equipment. The moves have been strategic, targeting products made in Republican districts, and goods - like soybeans - that can be purchased elsewhere. China has targeted products including chemicals, coal and medical equipment with levies that range from 5% to 25%. It has strategically targeted products made in Republican districts, and goods that can be purchased elsewhere, like soybeans.
Why tariffs?Why tariffs?
Tariffs, in theory, make US-made products cheaper than imported ones, and encourage consumers to buy American.Tariffs, in theory, make US-made products cheaper than imported ones, and encourage consumers to buy American.
What is the impact so far?What is the impact so far?
Already there are signs of economic strain.
Both US and international firms have said they are being harmed.Both US and international firms have said they are being harmed.
Fears about a further escalation has rattled investors and hit stock markets.
The IMF warned a full-blown trade war would weaken the global economy.The IMF warned a full-blown trade war would weaken the global economy.