The Latest: China strikes back, $75B in tariffs on US goods

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The Latest: China strikes back, $75B in tariffs on US goods
FILE - In this June 29, 2019, file photo, President Donald Trump, left, meets with Chinese President Xi Jinping during a meeting on the sidelines of the G-20 summit in Osaka, Japan. China has announced it will raise tariffs on $75 billion of U.S. products in retaliation for President Donald Trump's planned Sept. 1 duty increase in a war over trade and technology policy. (AP Photo/Susan Walsh, File)

WASHINGTON (AP) — The Latest on the escalating trade war between the U.S. and China, the world’s two largest economies (all times local):

10:10 a.m.

China is putting into place tariffs on $75 billion in U.S. products in retaliation for the Trump administration’s latest planned tariff hikes.

China said Friday that it will also increase import duties on U.S.-made autos and auto parts. The retaliation pulled global markets into negative territory

Tariffs of 10% and 5% will take effect on two batches of goods on Sept. 1 and Dec. 15. Beijing gave no details of what goods would be affected but the timing matches Trump’s planned hikes.