The U.S.-China trade war has now formally entered another stage and neither side is appearing indication of backing down.

The Trump organization followed through on hiking tariffs on $200 billion worth of Chinese merchandises from 10 to 25 percent a week ago. As U.S. markets were about to open on Monday morning after markets were closed in Asia, China reported a retaliatory pace – a rise in tariffs on $60 billion of American merchandises to 25 percent starting on June 1.

Trump is also laying the basis for further tariffs on an added $325 billion of imports, which would then cap just about everything coming from China. That part of tariffs would be a more rise, and would effect customers more largely, though such a measure could be months away. The Dow jumped on Monday morning in reply to the news.