China Imposes Retaliatory Tariffs On $60bn In US Goods

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

Beijing, (UrduPoint / Pakistan Point News - 18th Sep, 2018 ) :China Tuesday announced tariffs on US goods worth $60 billion in retaliation for President Donald Trump'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 side already traded tariff salvos on $50 billion in goods from each country in the summer.

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

China also announced that it was lodging a new complaint at the World Trade Organization in its tariffs battle with the United States.