Beijing imposed broad tariffs on imports of American food and said 15 U.S. companies could no longer buy from China without special permission.

President Trump is making good on tariff threats that will raise the stakes of his trade war with China and potentially ignite another in North America. Why it matters: It breaks a pattern of head fakes that Wall Street and businesses large and small had hoped would continue.

Beijing told the Trump administration it will “fight till the end” against new tariffs imposed this week, escalating its threats of retaliation. “If war is what the U.S. wants, be it a tariff war, a trade war or any other type of war,