At 12:01 this morning, the Trump Administration raised tariffs on 200-billion dollars worth of chinese goods from ten percent to twenty-five percent.
The move took U.S. businesses by surprise, there was just five days notice about the sudden rise in penalties.
The “made in china” label could get a lot more expensive for U.S. consumers starting Friday.
Negotiators in China failed to reach an agreement to prevent the tariff increase by the U.S. imposed deadline.
Minutes after the new tariffs went into effect, Beijing commented, expressing regret and threatening countermeasures.