The move comes after Donald Trump placed a 10% levy on Chinese goods. The tariffs are targeted more at businesses than consumers.

This time PHV Corp, the company that owns fashion brands Calvin Klein and Tommy Hilfiger, and US biotechnology firm Illumina, have both been targeted. In a statement, China's comm

The world’s two largest economies did not cut a deal to avert sweeping U.S. tariffs, which came into effect after midnight. Beijing immediately retaliated.

China's tariffs - due to begin next Monday - would also apply to US oil and farm machinery, but more talks are due this week.

US stocks open little moved by China's retaliatory tariffs. Mexico and Canada's tariff pauses suggests tariffs are negotiation tools, some say.

President Trump says the Chinese tariffs are a response to trade deficits, and the flow of fentanyl into the US The United States runs a trade deficit with the European Union, which means it imports more from European countries than it sells to them.

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President Donald Trump's tariffs against China have gone into effect. China has retaliated with tariffs against U.S. oil. Tariffs against Mexico and Canada have paused as negotiations continue.