China announces tariff hike on $75 billion of US products
China on Friday announced tariff hikes on $75 billion of U.S. products in retaliation for President Donald Trump's latest planned increase, deepening a conflict over trade and technology that threatens to tip a weakening global economy into recession. China also will increase import duties on U.S.-made autos and auto parts, the Finance Ministry announced. It gave no details of what goods would be affected but the timing matches Trump's planned duty hikes.
