Stories

China hits U.S. with $34 billion in retaliatory tariffs

Axios Visuals

China on Friday hit the U.S. with $34 billion in retaliatory tariffs on 545 products, and they are expected to take particular aim at states that voted for President Trump in the 2016 election.

Bottom line: Trump had promised that such actions would be met with additional U.S. tariffs, which means the two countries may be staring down the black hole of a tit-for-tat trade war.