In a significant escalation of the ongoing trade conflict, China has announced retaliatory tariffs of 84 percent on goods imported from the United States. CNBC’s Becky Quick reports on the latest developments surrounding these tariffs, which are expected to further strain trade relations between the two nations. Scientists, economists, and business leaders are expressing concerns over the impact this could have on the global economy. Understanding the implications of this decision will be crucial for businesses engaged in transnational trade and investors considering the potential fallout from these tariffs.