Trade War Talk Heats Up as Trump Officially Hits China With Tariffs
*By Alisha Haridasani*
Chinese officials accused the U.S. of plunging the countries with the world's two largest economies into a trade war Friday and said they'd retaliate immediately after President Donald Trump announced tariffs on Chinese exports.
The U.S. will levy a 25 percent tax on $50 billion of Chinese exports for “theft of intellectual property and technology and its other unfair trade practices,” the president said in a statement. “The United States will pursue additional tariffs if China engages in retaliatory measures.”
China, however, wasn’t deterred by the threat, promising to hit back in equal measure.
Major U.S. indices opened down on the news, with the Dow Jones tumbling nearly 300 points in early trade.
Trump decided to impose tariffs, which were initially announced in March, despite months of negotiations between the two countries. The White House has often flip flopped from tough rhetoric to declaring the trade spat [“on hold”](https://cheddar.com/videos/markets-rally-as-u-s-china-trade-war-cools). The administration even offered to save Chinese electronics company ZTE from the brink of collapse.
This round of tariffs comes on the heels of Trump’s decision to tax steel and aluminum imports coming in from the European Union, Canada, and Mexico. At the G7 summit in Canada last week, the president further antagonized U.S. allies by refusing to sign a joint statement on shared economic goals.
Lukas Alpert of MarketWatch explores how networks, brands, and ad buyers absorb the shockwaves when late‑night show hosts are suddenly cut — and brought back.
Scott Trench, host of the BiggerPockets Money Podcast, explores how recent rate cuts, high borrowing costs, and mortgage rates are reshaping U.S. real estate.
A look into how disruption, AI, and global economic trends are transforming the modern supply chain with Jeremy Jansen, Head of Supply Chain at Wells Fargo.
Delta CSO Amelia DeLuca reveals at the Fast Co. Innovation Festival how tech, sustainable aviation fuel, and smart operations are revolutionizing air travel.
Colin & Samir break down YouTube’s $100B payout to creators and explore why nearly a third of Gen Alpha want to be YouTubers — plus what that means for you.
