At 12:01 a.m. Friday, the United States will begin collecting tariffs on $34 billion worth of Chinese imports.
President Trump announced he was following through with the tariffs while aboard Air Force One on Thursday afternoon, and said tariffs on an additional $16 billion worth of goods could be imposed in two weeks. This is the first time U.S. tariffs are directly targeting Chinese products, Bloomberg reports, and the 25 percent tariffs will be on everything from airplane parts to farming plows. China said it will retaliate by imposing its own tariffs on U.S. goods like pork, corn, and soybeans.
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