Hong Kong's Hang Seng was down in overnight trading on Tuesday after the US imposed a 10% tariff on around $200bn worth of Chinese imports, starting next week.
US President Donald Trump threatened to increase this rate to 25% by the start of next year if the two countries failed to agree a deal. This marks the biggest set of tariffs imposed on China so far with around 6,000 items including handbags, rice and textiles being targeted. China has vowed to retaliate with its own set of tariffs marking a dramatic increase in the tensions between the two nations. Trump said in a statement: "I urge China's leaders to take swift action to end their country's unfair trade practices. Hopefully, this trade situation will be resolved, in the end, by m...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
