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Amercian and Chinese flags fly in Beijing, China

American and Chinese national flags fly outside a business complex in Beijing on August 11, 2018. China announced this week plans to put tariffs on 25 percent on U.S. products worth $16 billion, the latest move in an escalating trade war. China will survive the trade conflict with the U.S., the Chinese government has warned through state media. Photo by Stephen Shaver/UPI

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