Trade war intensifies between China and US

>> NEW. THIS MORNING, THE TRADE WAR IS INTENSIFYING BETWEEN CHINA AND THE U.S. CHINA'S COMMERCE MINISTRY ISSUED SANCTIONS BANNING CHINESE BUSINESSES FROM WORKING WITH FIVE U.S. SUBSIDIARIES OF THE SOUTH KOREAN SHIPBUILDER HANWHA OCEAN. HANHWA ACQUIRED THE PHILADELPHIA SHIPYARD LAST YEAR. THE MINISTRY ACCUSED THE COMPANY OF BEING INVOLVED IN A U.S. PROBE OF CHINA'S SHIPPING INDUSTRY. THIS COMES AFTER PRESIDENT TRUMP THREATENED TO IMPOSE A NEW 100% TARIFF ON CHINESE IMPORTS. THE U.S. AND CHINA ARE LAUNCHING PORT FEES ON EACH OTHER'S SHIPS STARTING TODAY. NEW TARIFFS RANGING FROM