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CHINA SET TO IMPOSE NEW TARIFF ON US GOODS

TRUMP ND CHINA

China on Monday said 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.

Beijing will impose tariffs ranging from 5 per cent to 25 per cent on a number of American goods, according to a statement by the Tariff Policy Commission of the State Council — China’s cabinet.

ALSO READ: TRUMP TELL CHINA TO EXPECT WORSE TRADE DEALS BY 2020 OR ACT NOW

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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