China Strikes Back with Tariffs as U.S. Trade War Escalates.

China has announced retaliatory tariffs on select U.S. goods, including a 15% import tax on coal and liquefied natural gas, and 10% on crude oil, agricultural machinery, pick-up trucks, and sports cars, starting Monday.

This follows the U.S. implementing a 10% tariff on all Chinese imports on Tuesday. U.S. tariffs on Canadian and Mexican goods have been postponed after last-minute negotiations.

President Trump stated that the tariffs are aimed at addressing trade deficits and the flow of fentanyl into the U.S.