World must unite to crush US 'trade terrorism'

If Beijing backs down as the first tough challenger to Washington's protectionist moves, the other economies may follow suit

The US administration threatened on Monday to slap a 10 percent additional tariff on $200 billion worth of Chinese imports, after announcing a hefty 25 percent tariff last week on $50 billion of made-in-China goods, escalating a trade dispute between the world's two largest economies that has put global markets and businesses on edge.

The White House issued the threat after China said it will retaliate against the 25 percent US tariffs on its exports and immediately outlined its own tariffs on $50 billion worth of US goods.