Temporary reprieve for Canada; Beijing hits back at US with tariffs
Washington/Beijing, Feb. 5 -- US President Donald Trump on Monday suspended his threat of 25% tariffs on Canada at the last minute, agreeing to a 30-day pause in return for concessions on border and crime enforcement. But there was no such reprieve for China, with tariffs of 10% on imports coming into effect at 12.01am ET on Tuesday (0501 GMT), risking a renewed trade war between the world's top two economies as Trump punishes China for not halting the flow of illicit drugs. China, in turn, imposed targeted tariffs on US imports and put several companies, including Google, on notice for possible sanctions, in a measured response to the sweeping US duties. But word that Trump planned to speak with Chinese President Xi Jinping on Tuesday suggested to investors there was scope for China to receive a temporary reprieve. P12...
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