China raises tariffs on US goods 0 SHARES Share it! Beijing’s move hits $60 billion worth of US goods with new punitive tariffs ranging from five to 25 percent, and comes in retaliation for Washington raising punitive tariffs on $200 billion in Chinese goods to 25 percent. The countries have exchanged tariffs on $360 billion in two-way trade so far. Tariff hikeUS President Donald Trump more than doubled punitive tariffs on $200 billion in Chinese goods to 25 percent last month, and launched the process to hit nearly all remaining imports from the Asian giant. China responded by increasing tariffs five percent to 25 percent on 5,410 American products Saturday, worth $60 billion in trade.

Source: Manila Bulletin June 01, 2019 08:15 UTC