The Chinese government said late Tuesday that it would impose tariffs on US goods worth $60 billion following the Trump administration's announcement that it was hitting $200 billion worth of Chinese goods with new tariffs.
Trump administration's new tariffs for around 6,000 Chinese products will start at 10 percent from Monday and will be increased to 25 percent on 1 January.
Trump had previously introduced a 25 percent tariffs imposed on Chinese products of $50 billion.
In the face of this last decision of Trump, the Chinese government has said it will impose $60 billion worth tariffs on the American product that it had previously shared.
China's Ministry of Finance announced the new tariffs decision would be levied at rates of 5% or 10%, depending on the product, from the same date. More than 5,000 US goods will be affected, including meat, nuts, alcoholic drinks, chemicals, clothes, machinery, furniture, and auto parts.
ILKHA