The United States will raise tariffs on $200 billion worth of Chinese imports to 25 per cent.The United States will raise tariffs on $200 billion worth of Chinese imports to 25 per cent from 10 per cent effective on Friday, according to a notice posted to the Federal Register on Wednesday.The US Trade Representative's office will establish a process to seek exclusions for certain products from additional tariffs, the Federal Register notice said.US President Donald Trump said in a tweet that he would be "very happy with over $100 billion a year in Tariffs filling US coffers."His comments followed a Reuters report that quoted US government and private-sector sources as saying China had backtracked on almost all aspects of a draft trade agreement with the United States.Global equities tumbled toward five-week lows as the escalating trade fight fed worries about the world economy and investors sought the safety of bonds and the Japanese yen, which hit a six-week high against the US dollar.Get the latest election news, live updates and election schedule for Lok Sabha Elections 2019 on TheIndianSubcontinent.com/elections.
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Election results will be out on May 23.