Business

China to penalise $60b of US imports in tit-for-tat move

Photo: Reuters

China and the United States plunged deeper into a trade war on Tuesday after Beijing added $60 billion of U.S. products to its import tariff list in retaliation for President Donald Trump’s planned levies on $200 billion worth of Chinese goods.

The tit-for-tat measures are the latest escalation in an increasingly protracted trade dispute between the world’s two largest economies.

On Monday, the US administration said it will begin to levy new tariffs of 10 percent on about $200 billion of Chinese products on September 24, with the tariffs to go up to 25 percent by the end of 2018.

 

 

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