china has increased tariffs on billions worth of US goods as trade tensions between the US and China escalate.
MojNews- China has increased tariffs on billions worth of US goods as it prepares to unveil a blacklist of “unreliable” foreign companies that analysts say aims to punish US and foreign firms cutting off supplies to telecoms giant Huawei .
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.
Washington and Beijing resumed their trade battle last month when trade talks in the US ended without a deal, with American negotiators accusing Chinese negotiators of reneging on previous commitments.
The countries have exchanged tariffs on $360 billion in two-way trade so far.