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Trump doubles initial plan for China tariffs

Chinese cargo ship
A Chinese cargo ship at a port in Qingdao. Photo: STR / AFP via Getty Images

"The Trump administration plans to impose tariffs worth as much as $60 billion on Chinese products as early as this week to punish Beijing for what the U.S. perceives as intellectual property theft from American businesses," Bloomberg reports.

Why it matters, from WashPost: "Senior aides had presented Trump with a $30 billion tariff package that would apply to a range of products, but Trump directed them to roughly double the scope of the new trade levies."