China hits back at Trump with tariffs on $60 billion of US goods

President Trump takes part in a welcoming ceremony with China's President Xi Jinping in Beijing.REUTERS/Thomas Peter

The Chinese Ministry of Commerce (MOFCOM) said on Tuesday morning that it had "no choice" but to retaliate. It's not clear what form retaliation will take, but the ministry previously threatened tariffs on $60 billion worth of US goods. This would mean that between 85% and 95% of American imports coming into China would be subject to a tariff.

Overnight, the Trump administration said that it had ordered the US Trade Representative to impose a tariff on $200 billion worth of Chinese goods, escalating the US-China trade war. The new tariffs mean that over half of all Chinese goods coming into the US will now be subject to the duties.

"For months, we have urged China to change these unfair practices, and give fair and reciprocal treatment to American companies," Trump said in a statement.

"We have been very clear about the type of changes that need to be made, and we have given China every opportunity to treat us more fairly. But, so far, China has been unwilling to change its practices."

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