How The ‘Biggest Trade War In Economic History’ Is Playing Out

It’s official: The United States and China are in a trade war after the Trump administration imposed tariffs at 12:01 a.m. Friday on $34 billion worth of Chinese products. Beijing immediately retaliated with its own penalties. The Chinese government is targeting a range of American products with tariffs, including pork, soybeans and automobiles. The prospect of rising costs for imports is expected to impact businesses and consumers alike. The United States has also imposed tariffs on imported steel, aluminum, solar panels and washing machines from countries like Canada, Mexico, the European Union and Japan. Read more at The New York Times.