British finance minister Philip Hammond said on Friday he was hopeful the United States and China would step back from a potential trade war that risked causing very serious damage to Britain and the world economy.
LONDON (Reuters) — British finance minister Philip Hammond said on Friday he was hopeful the United States and China would step back from a potential trade war that risked causing very serious damage to Britain and the world economy.
The United States increased tariffs on $200 billion worth of Chinese imports on Thursday while the two countries were in the midst of last-ditch talks to rescue a trade deal, a development Hammond described as “disappointing”.
