US announces tariffs on $50B in Chinese goods, but Trump says 'no trade war'

China immediately said it would retaliate.
0:26 | 06/15/18

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Transcript for US announces tariffs on $50B in Chinese goods, but Trump says 'no trade war'
Prison time has escalated trade war with China by approving a new 25% tariff. On fifty billion dollars worth of Chinese goods the president says the US can't tolerate losing technology in an intellectual property through unfair economic practices. The financial markets took a hit today when China bow to retaliate. Take a look in this is a live look right now the Dow which is down at this point around 237. Points.

This transcript has been automatically generated and may not be 100% accurate.

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