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China is putting into place tariffs on $75 billion in U.S. products in retaliation for the Trump administration’s latest planned tariff hikes. China said Friday that it will also increase import duties on U.S.-made autos and auto parts. The retaliation pulled global markets into negative territory. Tariffs of 10% and 5% will take effect on two batches of goods on Sept. 1 and Dec. 15. Beijing gave no details of what goods would be affected but the timing matches Trump’s planned hikes.