Washington added tariffs of 15 per cent to $112bn of goods from China on Sunday, expanding the trade war in a move that will probably raise prices for American consumers.
In retaliation, China triggered the imposition of additional tariffs on US goods including crude oil.
Until now tariffs levied by the Trump administration have raised costs for businesses with supply chains that reach across the Pacific. Inflation remains low in the US, and importers have had difficulty passing their costs on to consumers.
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