NEW ESCALATION OF U.S.-CHINA TRADE WAR: President Trump announced Monday that he had ordered the imposition of 10 percent tariffs on an additional $200 billion worth of Chinese goods starting next week ... The tariffs will rise to 25 percent on Jan. 1 of next year. Trump added that if the Beijing government retaliates, he would pursue tariffs on another $267 billion in imports. If the administration pursues what it calls "phase three" of the tariff strategy, it would raise the total value of affected Chinese goods to $517 billion -- covering nearly everything China sells the United States. Trump already has imposed 25 percent tariffs on $50 billion in Chinese goods. China has retaliated in kind, hitting American soybeans, among other goods, in a shot at the president's supporters in the U.S. farm belt.
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