Washington's 25 percent duties went into effect and affected products such as water boilers, X-ray machine components, airplane tires and various other industrial parts.
China immediately implemented retaliatory tariffs on its $34 billion list of goods issued last month, including soybeans, pork and electric vehicles. Beijing called it the "biggest trade war in economic history."
The amount of tariff will not do much in the global picture. Companies will adjust to the price increase. Consumers will react to these tariff and the whole import export will slightly change as they do all the time.
Prices do change based on supply and demand all the time. Consumer may change their habits of buying, or look for alternatives, and the outcome will be muted.
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