Trade war: Trump's latest round of China tariffs kicks in

The new exchange of fire in the trade war between the two economic superpowers comes as officials from both countries hold talks in Washington over the dispute.The United States imposed 25% tariffs on another $16 billion of Chinese goods just after midnight ET Thursday -- midday in Beijing. The tax affects 279 Chinese products, including chemical products, motorcycles, speedometers and antennas.

China had said it would respond immediately with 25% tariffs on an equal amount of American goods, such as chemical products and diesel fuel. Both China and the United States have now imposed tariffs on $50 billion of each other's goods in the clash, which the Trump administration launched in an effort to punish China for what it says are unfair trade practices, such as stealing intellectual property. The first round of tariffs went into effect in July. Source: CNN