U.S. wades deeper into its trade warPresident Trump escalated his trade war with Beijing yesterday by imposing tariffs on $200 billion worth of Chinese goods, many of them consumer products. The staggered increase will reduce the impact to American consumers over the holidays, though Apple has dodged the tariffs. A refresher on why this is happening: The tariffs aim to pressure China into changing longstanding trade practices that Mr. Trump says hurt the U.S. The administration says China could win relief by giving U.S. companies more access to its markets, among other things. So Beijing says it must retaliate at an “appropriate time.”Broadly, however, markets shrugged off the latest tariffs.

Source: New York Times September 18, 2018 10:35 UTC