CHINA HITS US WITH TARIFFS ON 128 PRODUCTS
It looks like the trade war everyone is trying to avoid just got a little closer to reality. The Chinese government said tariffs on about $3 billion worth of US imports are going into effect today, hitting 128 products including fruit, nuts, pork, steel pipes and recycled aluminum. This is a direct response to President Trump slapping China (and a few other countries) with tariffs on aluminum and steel imports. Trump says the tariffs were imposed because of national security issues, while China says they are a violation of global trade rules. Even though top US and Chinese officials have been holding talks to cool the trade tensions, the back-and-forth may not be over yet: Trump has also threatened tariffs on $50 billion worth of other Chinese goods.