China says it will impose tariffs on US goods worth $60 billion as of June 1

China
File Reuters

CHINA (VOP TODAY NEWS) — China announced on Monday it would impose a $ 60 billion fee on US goods as of June 1, in response to Washington’s announcement to charge the bulk of China’s exports to the United States.

A statement issued by the Chinese government said that Beijing will impose a fee of between 5 percent and 25 percent on a number of US goods after US President Donald Trump ordered Friday to increase tariffs on the rest of China’s imports after Washington lifted tariffs on Chinese goods worth 200 Billion dollar.

The latest round of talks between the United States and China ended without an agreement ending the trade dispute between the two biggest economic powers.

The announcement came after Trump warned Monday of Beijing to “respond” to US tariffs. “China should not respond – it will make matters worse,” Trump wrote on Twitter.

“China will not succumb to outside pressure,” Foreign Ministry spokesman Geng Shuang said at his regular press conference on Monday.

The trade dispute between the United States and China has raised concerns in world markets and observers have been unanimous in warning of its negative effects on global growth and the demand for commodities such as oil.

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