President Trump’s 10% tariffs on Chinese imports went into effect overnight and the Chinese government has already announced retaliatory tariffs.
They are imposing a “15% tariff on coal and liquefied natural gas” and a “10% tariff on crude oil, agricultural machinery, large-displacement automobiles and pickup trucks,” according to NBC News.
The tariffs go into effect on February 10th.
It looks like China is going to need a lot more squeezing in order for Trump to get them to do what he wants, which is to stop the fentanyl drug trade.
I expect this is going to go on for a while.