U.S. stock markets opened lower on Monday after President Trump announced plans to impose a 25 percent duty on essentially all Chinese goods, escalating a trade war that many hoped was headed toward a resolution this month
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Trump has already imposed a 25 percent duty on $50 billion worth of Chinese goods and a 10 percent duty on an additional $200 billion worth of Chinese products. The 10 percent duty was scheduled to rise to 25 percent at the end of last year, but Trump put off that action after a meeting with Xi in early December.
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