Trump imposes new tariffs on Chinese goods; China retaliates [Video]

President Donald Trump has implemented new tariffs on Chinese products, leading China to retaliate with tariffs on U.S. goods.”That’s fine. It’s fine. We’re going to do very well against China and against everybody else,” Trump said.Shortly after Trump’s tariffs took effect, China announced it would implement a 15% tariff on liquefied natural gas products and coal starting next Monday.Additionally, China will impose a 10% tariff on crude oil, agricultural machinery and large-engine cars.”If American manufacturers become less competitive or have less demand for what we’re producing, that affects American jobs,” said Mark Hamrick, an economic analyst at Bankrate.Economic analysts warn that tariffs could lead to higher prices for American consumers as importers pass the increased costs onto them.Some of the top imports from China by value include cellphones, computers and accessories, electric and industrial equipment, and toys, games, and sporting goods.Leaders in the footwear industry are sounding the alarm.”Our hope …