Canada has imposed billions of dollars worth of tariffs on American goods in response to US President Donald Trump’s levies on steel and aluminum.
Amid intensifying trade friction between Washington and Beijing, a new round of US tariffs took effect on Monday, raising the stakes for both sides. China seems to have several tools up its sleeve to counter US tariffs.
The latest US salvo against China has escalated the threat of a trade war between the world's two largest economies. China has responded by announcing countermeasures affecting up to $60 billion worth of US exports.
China's vice premier Hu Chunhua has warned that the global economy is moving in the wrong direction. A regional economic forum in Vietnam is analyzing the fallout from the ongoing US-China trade spat.
As the number of countries launching WTO proceedings against the US increases, Trump said he was mulling removing the US from the organization. He said the body had treated Washington "very badly."
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