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New China tariffs against U.S. take effect overnight
President Donald Trump announced a 90-day pause on tariffs for more than 75 countries that did not retaliate after the baseline tariffs went into effect Wednesday. But Trump doubled down with China, increasing tariffs on that country again. Chinese goods coming into the U.S. now face a 125-percent tax. This came after China announced reciprocal tariffs Wednesday morning, bringing their tariff rate on U.S. imports to 84-percent.
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