US tariffs on China take effect as Trump trade war escalates – Reuters

Its 0400 GMT and the US tariffs on China take effect, as confirmed by the US President Trump late-Thursday.

Trump confirmed that the US would begin collecting tariffs on $34 billion in Chinese goods at 12:01 a.m. Washington D.C. time (0401 GMT) on Friday.

“You have another 16 (billion dollars) in two weeks, and then, as you know, we have $200 billion in abeyance and then after the $200 billion, we have $300 billion in abeyance. Ok? So we have 50 plus 200 plus almost 300,” Trump told reporters aboard Air Force One.