China Says U.S. Has Begun 'Largest Trade War' In History, Retaliates With Tariffs
At midnight, U.S. tariffs took effect on $34 billion worth of imported Chinese goods — and Beijing responded quickly. The tit for tat marks a significant escalation in the countries' trade dispute.
Updated at 8:15 a.m. ET
As the day dawned across the U.S. on Friday, a new economic reality dawned with it: The tariffs long threatened against billions of dollars in Chinese goods took effect just at midnight ET while many Americans were sleeping — but Beijing was ready immediately with a wake-up call of its own.
The new trade regulations imposed by the Trump administration, which levy a 25 percent tariff on $34 billion worth of Chinese imports to the U.S., have "violated [World Trade Organization] rules and launched the Friday.
