China Retaliates, Hiking Tariffs on US Goods
China will raise tariff rates June 1 on 5,140 tariff lines of U.S. goods in retaliation for the Trump administration’s hike Friday of the List 3 tariffs to 25 percent (see 1905090069), announced the Foreign Affairs Ministry Monday. China isn't…
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increasing tariffs on U.S. imports that haven't yet been part of retaliation. It's hiking the previously imposed punitive tariffs from 10 percent to 20 percent or 25 percent, and increasing other tariffs from 5 percent to 10 percent. The largest number of products, 2,493, are going from 10 percent to 25 percent; another 1,078 are going from 10 percent to 20 percent, and for 974 tariff lines, the retaliatory tariff will increase from 5 percent to 10 percent. China is also holding fast at 5 percent on 595 tariff lines.