Trade war begins as China strikes back against US over tariffs

A trade war broke out between the world's two largest economies, after China struck back on Friday with its own set of tariffs on American goods, shortly after the US levied $34bn of duties on Chinese imports.

Washington increased tariffs at 12:01am Eastern time (04:01 GMT) on $34bn worth of Chinese imports, a first step in what could become an accelerating series of tariffs.  Read more.