China to ask WTO permission to impose sanctions on US

China will seek permission from the World Trade Organization (WTO) to impose sanctions on the U.S. next week, according to the WTO’s meeting agenda.

The request comes at a time of escalating trade tensions between the world’s two largest economies, with President Donald Trump saying last week he was “ready to go” on tariffs for another $267 billion on Chinese goods “if he wants.”

That would follow planned charges on $200 billion of Chinese goods in several industries, including technology. Beijing has vowed to retaliate if the U.S. takes any new steps on trade.

CNBC

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.