China to impose tarrifs on goods worth

The Chinese government said on Monday that 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.

According to a statement released by the Tariff Policy Commission of the State Council China’s cabinet, it read that Beijing will impose tarrifs ranging from 5 percent to 25 percent on a number of American goods.

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 per cent and ordering the start of a process to impose new duties on another $300 billion worth of items.

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Source: AFP

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