Trade row deepens as China ups tariffs on US$60B in U.S. goods
The Finance Ministry said Monday the new penalty duties of 5% to 25% on hundreds of U.S. products including batteries, spinach and coffee will take effect June 1.
China had vowed "necessary countermeasures" on Friday against Trump's escalation of the tariff conflict. The increases already in place have disrupted trade in goods from soybeans to medical equipment and sent shockwaves through other Asian economies that supply Chinese factories. The latest talks ended with no word of progress on Friday. Chinese officials said they hoped that the U.S. side would meet them halfway, describing the standoff as just a "setback."
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