By Kate Lyons (earlier) and Graeme Wearden (now)
US has hiked the tariffs on $200bn of Chinese goods to 25% overnight, from 10%, escalating the battle between the two economic powers
Earlier:
- Summary: Tariffs kicked in overnight
- But goods already sailing to US will be spared
- Full story: Higher tariffs come into effect as talks continue
3.06pm BST
Incidentally, the honour of ringing the Wall Street opening bell went to Austin Geidt, one of Uber’s first employees. She started as an intern in 2010, and has risen to become its head of operations.
2.38pm BST
DING DING! The New York stock market opening bell has been rung (thanks, Uber!), and shares are falling for the fifth day in a row.
The Dow Jones industrial average has dropped by almost 100 points in early trading, or 0.36%, with similar losses across the S&P 500 and the Nasdaq.
Source: US-China trade war: Beijing vows to retaliate as tariffs raised – Business live
