/biz/ - Business & Finance

https://www.reuters.com/article/us-usa-trade-china/china-to-impose-tariffs-on-u-s-goods-despite-trump-warning-idUSKCN1SI0B8

>China said on Monday it would impose higher tariffs on a range of U.S. goods, striking back in its trade war with Washington shortly after U.S. President Donald Trump warned it not to retaliate.

>China’s finance ministry said it plans to set import tariffs ranging from 5 percent to 25 percent on 5,140 U.S. products on a target list worth about $60 billion. It said the tariffs will take effect on June 1.

>The announcement came less than two hours after Trump warned Beijing not to retaliate after China said it “will never surrender to external pressure.”