Trump’s additional 10% tariff across all Chinese imports into the US came into effect at 12:01 am ET on Tuesday (05:01 GMT). Within minutes, China’s Finance Ministry said it would impose levies of 15% for US coal and LNG and 10% for crude oil, farm equipment and some autos. The new tariffs on US exports will start on 10 February, the ministry said.
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Mysteriously, tariffs lead to trade wars. Who could have predicted this except everyone?