Global Markets: China/U.S. trade war intensifies

WINNIPEG, May 13 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.

– China will place tariffs on US$60 billion worth of imports from the United States, the country announced Monday. The move comes in retaliation to a move by the U.S. to hike tariffs on US$200 billion worth of Chinese imports last week.

– Canadian airline WestJet has agreed to be sold to the Onex Company for C$5 billion. Shareholders must still approve the deal, which would pay out $31 per share. WestJet shares closed at $18.52 on Friday.

– Sweden has reopened an investigation into rape allegations against Julian Assange, and will look to extradite the WikiLeaks founder from Britain. Assange is also facing a charge of conspiracy in the U.S.

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