Once again, China and the United States are on a collision course over trade. Beijing has fired back at Washington with fresh tariffs, escalating fears of another full-blown trade war. Three days after US President Donald Trump announced 10% tariff hike on Chinese imports,

Beijing has made its decision. After days of warning of counter measures and urging Washington to enter negotiations and "meet China halfway", it has decided to hit back – or at least threaten to retaliate with its own tariffs.

The United States and China appeared to be inching closer to a trade war after Beijing revealed it would be retaliating against Washington with tariffs of its own on American goods. NBC News’ Janis Mackey Frayer and Aaron Gilchrist break down China’s rapid-fire retaliation to President Trump’s tariffs.

The world’s two largest economies did not cut a deal to avert sweeping U.S. tariffs, which came into effect after midnight. Beijing immediately retaliated.

After a 10 percent tariff on Chinese products took effect on Tuesday, China announced retaliatory measures, including tariffs and an investigation of Google.

China's Finance Ministry said it would impose levies of 15% for U.S. coal and 10% for crude oil, farm equipment, and some autos.