Markets drop as US and China enter fierce war of words

City A.M. | Aug 15, 2019 at 3:24 PM
  • A fierce war of words between China and the US broke out today after Beijing vowed to strike back over the 10 per cent tariffs the Trump administration is set to apply to $300bn of Chinese goods.
  • A trade war has raged between the two sides since 2017, when talks to reduce the US deficit with China broke down.
  • The Trump administration wants to reduce its trade deficit with China.