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You are here News International China hits back with tariffs on $60B in U.S. goods

China hits back with tariffs on $60B in U.S. goods

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China hits back with $60B tariffChina announced on Friday it would hit about $60 billion worth of U.S. exports with new tariffs in response to President Donald Trump’s decision this week to escalate potential trade penalties on Beijing, compounding concern in the business sector that there is no end in sight to the growing conflict.

China said it was taking the action “because the U.S. side has repeatedly escalated the situation despite the interests of both enterprises and consumers,” according to an informal translation from a China Ministry of Commerce statement. “China has to take necessary counter-measures to defend the country's dignity and the interests of the people, defend free trade and the multilateral system, and defend the common interests of all countries in the world.”

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