: China on Tuesday hit back at the US with tariffs on Rs 60 billion worth of American goods, in a tit-for-tat move that came hours after President Donald Trump slapped duties on Rs 200 billion worth of Chinese imports.
President Trump on Tuesday slapped 10 per cent tariffs on Rs 200 billion worth of Chinese imports and the duties will rise to whopping 25 per cent at the end of the year, escalating the trade war with the world’s second largest economy.
Trump alleged China had been unwilling to change its unfair trade practices and the new additional tariff structure would give fair and reciprocal treatment to American firms.
China’s Finance Ministry retorted. “If the United States insists on raising tariffs even more, China will respond accordingly.”
