China's retaliatory 84% tariffs on US imports come into effect

Tariffs of 84 percent on all Chinese imports of American goods took effect on Thursday, deepening a trade war between Beijing and Washington which has rocked global markets and sparked fears of a recession.

The levies will apply to all US products entering the world's second-largest economy, which according to the office of the US Trade Representative, totalled $143.5 billion in 2024.