News Briefs

The Wall Street Journal reports that the U.S. will move ahead with new tariffs on $16 billion of imports from China. The tariffs, which will take effect on August 23^rd, are in response to what U.S. officials say is China’s unwillingness to curb unfair trade practices and the targeting of U.S. firms. WSJ

The Financial Times reports that China has retaliated against the new U.S. tariffs. China plans to implement a 25% tariff on $16 billion of imports from the U.S., including crude oil, cars, and medical equipment. FT