China announces retaliatory tariffs on US goods
BEIJING (AP) - China says it will increase tariffs on $60 billion worth of U.S. goods in retaliation after President Donald Trump announced new U.S. tariffs on $200 billion worth of Chinese imports.
It's the latest volley in the trade war between the two countries, and an American business group is warning that a downward spiral in the conflict appears certain. China's Finance Ministry says it is going ahead with plans announced in August for increases of 10 percent and 5 percent on 5,207 types of U.S. goods.
A list released last month included coffee, honey and industrial chemicals.
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