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China has announced that it would let the Trump administration to make the first strike in the looming trade war between China and the United States. After the Trump administration announced that it would impose tariffs on $50 billion Chinese goods, China promptly announced last month it would retaliate in a similar fashion and announced tariffs $50 billion U.S. goods.
The first tranche of Chinese tariffs on $34 billion U.S. goods was set to go live tomorrow, July 6th. However, China has announced that it would allow the U.S. President to make the first strike and announced measures of its own at a later date.
Since the U.S. tariffs were announced to go live on Friday, China also chose to Friday as the day to strike back. However, as China is 12-time zone ahead of Washington, striking Friday means it would strike first. It is likely that while China allowed the U.S. to go ahead, it would not wait much to retaliate and an action on trade is likely over the weekend.
