FTSE LIVE: Shares deep in the red as Trump threatens China with more tariffs

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The FTSE 100 has tumbled at the open, falling by 1.6 per cent, after US President Donald Trump vowed to impose a 10 per cent tariff on $300billion of Chinese imports from September.

Meanwhile in company news, Royal Bank of Scotland has unveiled a bumper £1.7billion payout for shareholders, delivering a surprise windfall for the taxpayer.

And Majestic Wine has agreed to sell its retail business to US firm Fortress Investment Group for £95million.

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