US President Donald Trump was poised to ratchet up his trade dispute with China, with a major announcement promised later Monday that could see hundreds of billions in goods subjected to fresh import duties. Trump is due to make the announcement after the close of US stock markets, where major indices were already sinking sharply in anticipation of what could be a major escalation in the US-China trade conflict. The president has vowed to put punitive tariffs on another $200 billion in Chinese goods, meaning tariffs would now affect roughly half of what the United States buys from China -- its largest source of imported merchandise.
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