China hits back at US with tariffs on $60bn of products

Beijing has ignored Donald Trump’s warning not to retaliate against US tariff hike

China has hit back in its trade war with the US, announcing plans to impose tariffs on $60bn of American imports.

Tariffs will be imposed on 5,140 US products with an annual value of about $60bn (£46bn) from 1 June, the Chinese finance ministry said on Monday.

Related: US-China trade deal: Donald Trump insists there’s no rush to secure deal

..There will be nobody left in China to do business with. Very bad for China, very good for USA! But China has taken so advantage of the U.S. for so many years, that they are way ahead (Our Presidents did not do the job). Therefore, China should not retaliate-will only get worse!

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Read the original at Economics | The Guardian.