FIRST AIRED: April 2, 2018

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00:00:01
>> Trade tensions escalating between the US and China Monday. With Beijing slapping tariffs on 128 US goods, from pork to wine to fruits and nuts. The move is a counter punch to US President Donald Trump's increased duties on imported Chinese steel and aluminum. As well as his threat to impose more than $50 billion worth of tariffs on other Chinese goods.
00:00:26
The tariffs, to take effect Monday, were announced late Sunday by China's finance ministry. Following through on a threat made back in March 23rd to impose tariffs on up to $3 billion in US goods. Soon after the announcement, an editorial in the widely-read Chinese tabloid, Global Times, warned that if the US had thought China would not retaliate against Trump's measures, it can now, quote, say goodbye to that delusion.
00:00:54
Among the hardest hit, cork and scrap aluminum, now subject to tariffs as high as 25%. Fruit and ethanol to see import duties of up to 15%. Fears of a US-China trade war have rocked global financial markets in the past week. As investors fear a full-blown spat between the two countries will be damaging for world growth.
00:01:16
US markets plunging Monday, the DOW, S&P 500, and NASDAQ all down around 2%.