China to slap tariffs on US goods despite Trump warning

14 May, 2019 - 00:05 0 Views

The Herald

WASHINGTON/BEIJING. — China said yesterday it would impose higher tariffs on a range of US goods including frozen vegetables and liquefied natural gas, striking back in its trade war with Washington after US President Donald Trump warned it not to.

The move, widely expected after the United States last week raised tariffs on $200 billion in Chinese imports, heightened fears the world’s two largest economies were spiralling into a no-holds-barred dispute that could derail the global economy.

China’s finance ministry said it plans to set import tariffs ranging from 5 percent to 25 percent on 5,140 US products on a revised $60 billion target list. It said the tariffs will take effect on June 1. — Reuters

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