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As U.S. stock futures plummet Wednesday morning on the news that China has responded to U.S. tariffs by targeting autos, chemicals, planes, soybeans and whiskey, President Trump denied the existence of a trade war — though he claimed just last month that "trade wars are good, and easy to win."
Go deeper:
- This time, China can fight back against tariffs.
- CNBC tracks the stock market this morning after China's tariff response.