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Trade war

US orders tariffs on $50-$60bn of Chinese goods

China announces retaliatory measures, Asian markets tumble

U.S. President Donald Trump signs a memorandum threatening China with tariffs on high-tech goods in response to intellectual property concerns.   © Reuters

WASHINGTON/TOKYO -- U.S. President Donald Trump took action Thursday against what he called serious intellectual property abuses by China, calling for 25% tariffs on $50 billion or more of Chinese goods.

Speaking at a news conference, Trump called the U.S. trade deficit with China "out of control" and said he was doing something where past administrations had failed to act.

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