Money China slaps tariffs on $60 billion in U.S. imports, but Donald Trump insists U.S. is well-positioned in trade fight May 13, 2019Michael Collins and David Jackson, USA TODAYComments Off on China slaps tariffs on $60 billion in U.S. imports, but Donald Trump insists U.S. is well-positioned in trade fight The new duties, announced Monday, will take effect on June 1, escalating a trade war as negotiations between the two countries have stalled.