China will raise tariffs on $60 billion of U.S. goods starting next month in response to President Trump increasing tariffs on products from Beijing.
Bloomberg reports the 25 percent tariffs will impact nearly 2,500 U.S. products and will go into effect June 1.
The retaliatory tariffs from China are the latest escalation of tensions between the world’s two largest economies as they seek to negotiate a trade deal.
Beijing is increasing tariffs from 10 percent to 25 percent on a number of U.S. goods, including peanuts, sugar, wheat, chicken and turkey, according to CNBC.
Read more at The Hill.
{Matzav.com}
