China fired back in the trade war with the US, and Wall Street took the first hit. The Dow dropped 617 points after China announced it was hiking tariffs on $60 billion worth of imported American goods. More than 4,000 US goods are targeted. Most of them now carry tariffs of 25% -- up from 10% when they were first levied last September. These new tariffs are in retaliation for hikes on $200 billion worth of Chinese goods, announced last week. The Trump administration hopes this economic brinkmanship will force the Chinese into cutting a trade deal, but there's no guarantee that's going to happen. China's tariffs will also hit US farmers especially hard, and some farmers are getting nervous. They have a message for President Trump: "This can't go on."

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