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China to raise tariffs on $60B of U.S. goods

Yahoo Finance talks to Joseph Minarik, the Senior VP and research director of the Committee for Economic Development and former chief economist of the Office of Management and Budget for the eight years of the Clinton Administration. Minarik weighs in on the trade tension between the U.S. and China, saying "the situation with respect to the negotiations is rather troubling... the sense you get is a lot of the scaffolding that was built for this negotiation has been torn down."