As the day dawned across the U.S. on Friday, a new economic reality dawned with it: The tariffs long threatened against billions of dollars in Chinese goods took effect just at midnight ET while many Americans were sleeping — but Beijing was ready immediately with a wake-up call of its own.

The new trade regulations imposed by the Trump administration, which levy a 25 percent tariff on $34 billion worth of Chinese imports to the U.S., have "violated [World Trade Organization] rules and launched the largest trade war in economic history to date," China's Ministry of Commerce declared in a statement Friday.

Read more at: https://www.npr.org/2018/07/06/626453571/china-says-u-s-has-begun-largest-trade-war-in-history-retaliates-with-tariffs?t=1530880270364


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