China will slap a 5 per cent tariff on crude oil from the United States from September 1. Photo: Reuters
China adds crude oil to tariffs list for first time in targeted retaliation against US
- Beijing will also resume imposing duties on American cars in what observers say is a restrained but focused response to latest US tariffs
- State media commentary says it was designed to ‘inflict pain on the US manufacturing sector’ and rattle US financial markets
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US-China trade war
China will slap a 5 per cent tariff on crude oil from the United States from September 1. Photo: Reuters