China has recently announced that the new retaliatory tariffs will be on $60 billion worth of American goods and the rate will range between 5% and 10%.
Key quotes (via Reuters)
- China hopes US will maintain mutually beneficial trade relationship via dialogue of mutual respect and equality.
- If US insists on raising tariff rates on Chinese goods, China will respond accordingly.
- Chinese new tariffs will be levied on 5,207 us products, unchanged from initial proposal.
- New tariffs on US goods effective at 1201 local house on 24 September,