China Hits Back, Imposes Tariff Hike On U.S. Goods Worth $60 Bn
The Hindu|May 14, 2019

Beijing defies Trump warning “not to retaliate or it will only get worse

China Hits Back, Imposes Tariff Hike On U.S. Goods Worth $60 Bn

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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