Others are unhappy. Critics have pointed out that the newly proposed U.S. tariffs would be likely to hit consumers directly. And the Federal Reserve Bank of Boston’s chief, Eric Rosengren, warned that the renewed trade fight could hurt the global economy. Economists expect things to get worse before they get better.

Financial markets tumbled on the news, with no sign that the skirmish will end soon. The S&P 500 index was down more than 2.4 percent for the day and 4.6 percent this month. Bonds and commodities also flashed warnings of a slowdown. (Not an apples-for-apples comparison, but an interesting observation: The dollar value lost on the S&P 500 yesterday was more than what the U.S. imports from China in an entire year.)

But there’s a window of opportunity of several weeks for trade talks to continue, before the latest round of higher tariffs goes into effect. The two countries have significant differences to settle, but they will press on with negotiations. Mr. Trump said that success will be determined within three or four weeks.

Apple faces a huge antitrust battle

The Supreme Court yesterday allowed a class-action lawsuit against Apple that accuses the iPhone maker of abusing its control of the App Store. Expect it to set similar cases in motion.

Apple is accused of raising prices in its App Store using monopoly power. The company takes up to 30 percent of every app purchase from the store, forbids developers from selling apps elsewhere and plays a role in setting prices.