China says it will take retaliatory tariff action against 60 billion dollars of U.S. goods in response to the latest round of tariffs announced by the Trump Administration.
On Monday President Trump said the U.S. will levy 10 percent tariffs on about 200 billion dollars in Chinese goods on September 24th. That rate will increase to 25 percent on January 1st if the Chinese refuse to offer trade concessions.
The latest round of duties comes on top of a 25 percent tariff already imposed on about 50 billion dollars in Chinese goods, which triggered retaliation from China on the same amount of U.S.
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