China/U.S. Trade war: China raises tariffs on U.S goods

Tariffs on billions of dollars’ worth of U.S. goods have been raised by China as it prepares to unveil a blacklist of “unreliable” foreign companies that analysts say aims to punish U.S. and foreign firms cutting off supplies to telecoms giant Huawei.

Beijing’s move hits 60 billion dollar-worth of U.S. goods with new punitive tariffs ranging from 5 per cent to 25 per cent, and comes in retaliation for Washington raising punitive tariffs on 200 billion dollars in Chinese goods to 25 per cent.

Washington and Beijing resumed their trade battle last month when trade talks in the U.S. ended without a deal, with American negotiators accusing Chinese negotiators of reneging on previous commitments.

So far, the countries have exchanged tariffs on 360 billion dollars in two-way trade.

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