The Trump administration has announced a 10-percent tariff on around $200 billion worth of imports from China in response to unfair trade practices.

More details from Bloomberg:

The Trump administration will slap a 10 percent tariff on about $200 billion in Chinese goods next week, and more than double the rate in 2019, setting up what could be a prolonged trade war between the world’s two biggest economies.

The administration is giving U.S. businesses a chance to adjust and look for alternative supply chains by delaying an increase of the tariff to 25 percent until next year.

Here is a look at several of the growing United States trade deficits with China.

This action follows threats from the president about potential tariffs if a trade deal was not able to be accomplished.

The president waited until the close of the markets to implement this action.

It should be interesting to see how they react tomorrow and throughout the week.