China sets retaliatory tariffs on $60bn US goods

China on Tuesday announced tariffs on US goods worth $60 billion in retaliation for President Donald Tump’s decision to slap duties on $200 billion in Chinese products next week.

Tariffs of between five and 10 percent will take effect on some 5,200 US products on Monday, on the same day as the new US duties, the finance ministry said.

The two sides already traded tariff salvos on $50 billion in goods from each country earlier this year.

“If the United States insists on raising tariffs, even more, China will respond accordingly,” the finance ministry said in a statement.

China had previously warned that it would target $60 billion in US goods if Trump made good on his threat to impose the new tariffs.