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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,
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