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The US-China trade war ratcheted up yet again on Friday, with Beijing unveiling a new round of retaliatory tariffs on about billion worth of US goods.China will place tariffs of 5% or 10% on US imports starting on September 1st, according to a statement posted by China's Finance Ministry.The Ministry also announced plans to resume tariffs on US imports of automobiles and automobile parts. The tariffs would be 25% or 5%, and would take effect on December 15th.Last week, China said it would take countermeasures after the United States announced it would impose 10% tariffs on Chinese imports worth 0 billion.The United States postponed the implementation of about half of those tariffs, which will cover several categories of Chinese-made consumer goods, until December. They had been due to take effect in September.The move comes amid indications the ongoing trade war is having an impact on the world's two largest economies. Industrial production in China — an important indicator for the country's economy — grew just 4.8% in July compared to a year earlier, according to China's National Bureau of Statistics. That's the worst growth for that sector in 17 years.American factories are also contracting for the first time in a decade and red lights are flashing in the bond market, where the yield curve has inverted. Such inversions, where the 10-year Treasury yield dips below the two-year Treasury rate, are historic predictors of a coming recession. 1481

Today, one-third of people under 30 have student debt.The Pew Research Center says those people are 11 percent more likely to struggle financially than people who graduated college without debt.Chris Stewart met with a young woman, Lauren McCabe, who says she's buried in student debt and will spend the next 15 years digging herself out of it. Watch the interview to learn more about McCabe’s story and her advice to students entering college. 457

The student at Marjory Stoneman Douglas High School in Parkland, Florida, who died by an apparent suicide on Saturday has been identified as 16-year-old Calvin Desir, according to police.Coral Springs Police Officer Tyler Reik confirmed the boy's identity on Wednesday. The circumstances surrounding the student's death are not clear. 346

The suspect in Thursday's school shooting in Santa Clarita, California, that killed two victims and injured three others died on Friday, a sheriff's office homicide official confirmed to ABC News. Scripps has learned the identity of the suspect, but is not naming the suspect at this time. The suspect reportedly turned 16 on Thursday. The suspect was hospitalized on Thursday following the shooting due to a self-inflicted gunshot wound. Hospital officials said the 16-year-old suspect was in grave condition. The suspect was a junior at Saugus High School, the site of Thursday's shooting. Students Gracie Muehlberger and Dominic Blackwell were also killed during Thursday's shooting. 698

Through the next few days, parents and grandparents will lovingly insert and bills into Christmas cards, then mailing them to children as gifts. But many of those cash gifts may go missing, as one mom found out.Rena Giselle recently opened her mail box to find a car addressed to her 14 year old son. But she immediately noticed the corner torn, and the cash Grandma had enclosed nowhere to be found."I mean that's just tampered with," she said.Her mom confirmed she put money in it. "My grandparents and family and friends like to send cash through the mail for like the holidays and birthdays, and this year they're not coming through," Giselle said.Card thefts across the countryJust this past month, a postal worker admitted to stealing ,000 cash from birthday and other cards at one Wisconsin Post Office.It's not just rogue postal workers: cash is also stolen by porch pirates, the same thieves who run off with our Amazon boxes.The problem is if you put cash inside a holiday greeting card, especially more than one bill in thickness, a good thief can often feel that card and tell there's money inside it.The United States Postal Service suggests you don't mail cash. It recommends:? Personal or cashier's checks? Money order? Sending cash by registered mail, where you insure itGiselle is putting her parents on money transfer apps like Venmo or Zelle."I would suggest using apps, because you'll have the money in a minute," she said.It's a good idea, because a holiday gift is no fun if a Grinch gets it first. If you must send cash, wrap it in extra paper, so someone with curious fingers wont be able to feel it. That way you don't waste your money.___________________Don't Waste Your Money" is a registered trademark of Scripps Media, Inc. ("Scripps").Like" John Matarese on FacebookFollow John on Twitter (@JohnMatarese)For more consumer news and money saving advice, go to 1910