China positions itself as 'free trade champion' as tariffs hit

The relationship between US and China has deteriorated since the first term of Trump. Credit - Reuters via BBC News

Tariffs on China have hit 104%, but the US's biggest economic rival is standing firm against what it calls the "bully" regime of President Trump. The country is positioning itself as a free trade champion, our China correspondent Stephen McDonell reports. The economic uncertainty created by new, higher import taxes on about 60 countries has seen European stocks slumping and major Asian markets extending their losses when they opened on Wednesday morning, while our economics editor Faisal Islam reports on “aggressive” selling of long term US government bonds. But the US president has insisted his tariffs will be "legendary, in a positive way". – BBC News