China threatens new tariffs on $60 billion of U.S. goods

China threatened on Friday to put tariffs on $60 billion a year worth of imports from the United States if the Trump administration imposes its own new levies on Chinese goods.

The new threat comes just two days after President Trump ordered his administration to consider increasing the rate of tariffs it has already proposed on $200 billion a year of Chinese goods everything from chemicals to handbags to 25 percent from 10 percent.

The two countries have for months been engaged in an escalating trade dispute. They imposed matching tariffs last month on $34 billion apiece of each others’ products, and imposed levies on lengthy lists of products, from steel and aluminum to washing machines, and even dried fruit, during previous rounds of tariffs earlier this year.

The latest Chinese tariffs would, if implemented, be up to 25 percent, and cover 5,207 tariff categories, the country’s commerce ministry said in a statement on its website.

Source: Jordan News Agency