China hits back at Trump, announces $60B tariff hike on U.S. goods
Beijing (AP): China on Tuesday announced a tariff hike on $60 billion of U.S. products in response to U.S. President Donald Trump’s latest duty increase in a dispute over Beijing’s technology policy.
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The announcement followed a warning by an American business group that a “downward spiral” in their conflict appeared certain following Trump’s penalties on $200 billion of Chinese goods.
The Finance Ministry said it was going ahead with plans announced in August for the increases of 10 per cent and 5 per cent on 5,207 types of U.S. goods. A list released last month included coffee, honey and industrial chemicals.