Trump Hits China With Tariffs on $50 Billion Worth of Goods

Twenty-four hours after claiming he had secured peace on the Korean Peninsula, Donald Trump declared the start of a trade war with China. The president slammed crippling 25 percent duties on a raft of Chinese products. “The United States can no longer tolerate losing our technology and intellectual property through unfair economic practices,” Trump said. China will impose tariffs of “equal scale, equal intensity” on U.S. products, according to Beijing’s commerce ministry website. Trump will impose even more tariffs if China retaliates, according to a statement emailed to Bloomberg News.