The first round of President Donald Trump's 25 per cent punitive tariffs on China will hit US$50 billion in goods starting on Aug 23, the government announced on Tuesday (Aug 7). Washington already imposed 25 per cent tariffs on US$34 billion in Chinese products on Jul 6. But it held off on a final US$16 billion as a result of concerns raised by US companies. Although the move was expected, it cements the view that there appears to be no effort underway to defuse the dispute between the world's two largest economies that have continued to exchange threats. China has already retaliated with duties of its own, and has ... (full story)