``Beijing hit back against U.S. plans to impose tariffs on $50 billion in Chinese goods, retaliating with a list of similar duties on key American imports including soybeans, planes, cars, beef and chemicals. But technology products, from cellphones to personal computers, were largely exempt. There also may be room for negotiations as Washington has a two-month window for public comment and consultation, and the market also seemed to take comfort that the effective date of China's moves depends on when the U.S. action takes effect.''

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