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CHINA STRIKES BACK


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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