China Raises Tariffs On $60 Billion Of U.S. Goods
CHINA IS RETALIATING TO TRUMP'S TRADE THREATS BY INCREASING TARIFFS ON US GOODS
(CNN) – China is retaliating against president Trump’s latest round of tariffs.
Starting next month, China will raise tariffs to 25% on $60 billion worth of U.S. goods.
Friday, Trump implemented tariffs of $200 billion worth of Chinese goods.
Trump tweeted Monday morning that it “will only get worse” for China. While China said it will “never yield to external pressure,” according to a spokesperson for the Ministry of Foreign Affairs.
Over the weekend, Trump’s top economic adviser Larry Kudlow said that there is a strong possibility Trump will meet with Chinese president Xi Jinping at the G-20 economic summit in Japan next month.
This, as global markets are expected to tumble in response to the ongoing trade war.