China says it will raise tariffs on US imports worth $60 billion
China plans to impose tariffs on $60 billion worth of U.S. goods, the finance ministry said on Monday, after the United States escalated a bitter trade war with a tariff hike on $200 billion of Chinese products.
- Economy
- Compiled from news agencies
- Published Date: 04:01 | 13 May 2019
- Modified Date: 04:03 | 13 May 2019
China said Monday it will impose tariffs on $60 billion worth of US goods from June 1, after Washington announced plans to tax almost all Chinese imports to the United States.
Beijing will impose tariffs ranging from 5 percent to 25 percent on a number of American goods, according to a statement by the Tariff Policy Commission of the State Council -- China's cabinet.
The latest round of trade negotiations between the world's top two economies ended Friday without a deal, with US President Donald Trump increasing tariffs on $200 billion worth of Chinese goods to 25 percent and ordering the start of a process to impose new duties on another $300 billion worth of items.