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U.S. Launches $34 Billion Trade War, China Fires Back


The Chinese government said Friday it "immediately" retaliated against increased U.S. tariffs on Chinese imports as President Donald Trump's administration effectively launched a trade war with its most important trading partner.  

China’s foreign ministry in Beijing said that tit-for-tat duties on U.S. goods took effect straight away after Washington’s 25 percent tariff on $34 billion worth of Chinese goods kicked in at 12:01 a.m. EDT on Friday.

Beijing had previously flagged that China would make a "necessary counterattack" if needed on a similar amount of U.S. exports including soybeans and cars. The U.S. levies mostly target China's industrial goods and some electronic components. A long list of targeted Chinese products directly purchased by Americans such as TVs, printers and washing machines was sharply revised in June following a trade hearing.

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