Rolling coverage of the latest economic and financial news, as US proposes steep new tariffs on French cheese, wine, handbags and porcelain
- Latest: Trump says China deal could wait until after 2020
- Trump says France shouldn’t tax US companies
- Trump: If anyone takes advantage of US firms, it’s us!
- Introduction: Trade war deepens
- French fizz, cheese, handbags all face 100% tariff
- France: We’ll hit back
The US stock market is also heading for sharper losses in an hour’s time:
US Futures sliding now:
Just in: Britain’s FTSE 100 index of top shares has hit its lowest level since late October.
The Footsie has now lost 108 points to 7,177, its weakest level in six weeks.