Sri Lanka, April 4 -- China announced additional tariffs of 34% on U.S. goods on Friday, striking back at U.S. President Donald Trump and escalating a trade war that has fed fears of a recession and triggered a global stock market rout that showed no sign of slowing on Friday.

In the standoff between the world's two biggest economies, Beijing also announced controls on exports of some rare earths, while Trump doubled down as well, vowing not to change course.

Published by HT Digital Content Services with permission from Hiru News....