Trump's 'explosive' global tariffs take effect, including 104% rate on China
BBC update:
DONALD Trump's tariffs on 60 countries which he deems the "worst offenders", including 104% duties on China, have come into effect.
The additional tariffs on China kicked in after Beijing refused to meet Trump's deadline to withdraw its own retaliatory levies on the US - here's a timeline of how we got here.
China's exports to the US amount to 2% of its total economic activity and the message from Beijing is they can ride this out, says the BBC's China correspondent.
Trump says the tariffs are "explosive" and will boost the US economy, but experts warn they could push up prices for consumers.
Markets tracker: London's FTSE 100 index opens 2.5% down, European stocks slump and major Asian markets extend their losses after the tariffs kicked in.
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Beijing says it's willing to communicate with US to resolve 'friction'
THE US will not solve problems like its trade deficit and "lack of industrial competitiveness" through the tariff measures, China says in a White Paper published today.
"They seriously damage global trade order and the security and stability of global industrial and supply chains," the document reads.
The paper sets out that China has "always" maintained China-US trade relations are "mutually beneficial".
It adds that it is "natural" for the two countries to have "frictions" but underlines that they need to respond to each other's core interests.
Beijing is willing to communicate with Washington to resolve them, it adds.
China accuses Trump of employing 'bullying practices'
Speaking at a news conference, China's foreign affairs spokesperson says that the Chinese people's "legitimate right to development must not be deprived" by charges on its goods.
Lin Jian accuses the US of "bullying practices", and urges Trump's administration to "demonstrate an attitude of equality, mutual respect and reciprocity" to resolve the dispute through dialogue.
He says that if Trump "insists" on provoking a trade war, "China will be compelled to fight to the end".
