Beijing defies Trump warning “not to retaliate or it will only get worse
China said on Monday it would raise tariffs on $60 billion worth of U.S. goods from June 1, in retaliation for the latest round of U.S. tariff hikes and Washington’s plans to target almost all Chinese imports.
The announcement came after the latest round of U.S.China trade negotiations ended on Friday without a deal, and after Washington increased tariffs on $200 billion worth of Chinese goods.
U.S. President Donald Trump had also ordered the start of a process to impose new duties on another $300 billion worth of Chinese items.
Time for resolution
Despite the retaliation, Beijing appeared to give time to find a resolution by setting the June 1 date.
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