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The story, it comes from China, retaliating, said it would levy an additional 25% tariff on imports of 106 US products

including soybeans, automobiles, chemicals and aircraft.

This in response to proposed American duties on Chinese high-tech goods.

All of this in the last 24 hours,

to draw a distinction a line between what is a proposal

and what is actually policy,

Chris Ruppke joins us now,

MFUG, Union Bank Chief Financial Economist.

Chris, let's drain the drama just for a moment and look at what's on the table.

Is this a negotiation or the first shot of a trade war?

Yeah, I mean, it sounded like China was just putting this out here.

This is what they could do, but they didn't announce the date of enacting these tariffs.

So it sounds like both sides are hitting each other pretty hard in terms of rhetoric,

but we're a ways away from finding that exports between the two countries are going to slow down here.

Well let's go into what's on the table.

The United States has unveiled proposals for tariffs.

...