US markets plummet as China imposes tariffs on US goods

US markets are down after China said it will impose tariffs on US$60 billion-worth of US goods. In what is an escalating and bitter trade war, it follows the decision from the United States to more than double tariffs on US$200 billion-worth of Chinese products. President Trump spoke to reporters a short time ago that despite China "taking advantage of the US" the two countries have a good relationship.