China and the US ratchet up trade war in a day of retaliation

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“We have a little bit of a mad King George in charge of this country right now,” Democratic presidential candidate Marianne Williamson says about President Trump and the US economy, adding that the economy “is skewed in the favor of a very few people.”

China will place additional tariffs of 5% or 10% on US imports starting on September 1st, according to a statement posted by China's Finance Ministry.The Ministry also announced plans to resume tariffs on US imports of automobiles and automobile parts. The tariffs would be 25% for vehicles or 5% on parts, and would take effect on December 15th. The new tariffs will target 5,078 products, including soybeans, coffee, whiskey, seafood and crude oil.

" The American Farm Bureau Federation said the tariff announcement"signals more trouble for American agriculture.""We know continued retaliation only adds to the difficulties farm and ranch families are facing and takes the situation in the exact wrong direction," the statement said.

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