China hits back, imposes tariff hike on U.S. goods worth $60 bn
- S. President Donald Trump and Chinese President Xi Jinping participate in a welcome ceremony at the Great Hall of the People in Beijing, China. Trump is to meet with Xi at the Group of 20 summit in Buenos Aires, Argentina.
- Beijing defies Trump warning not to retaliate or it would only get worse.
- China will raise tariffs on $60 billion worth of U.S. goods from June 1, in retaliation to the latest round of U.S. tariff hikes and Washington’s plans to target almost all Chinese imports.
- The announcement came after the latest round of U.S.-China trade negotiations ended on Friday without a deal, and after Washington increased tariffs on $200 billion worth of Chinese goods.
- S. President Donald Trump had also ordered the start of a process to impose new duties on another $300 billion worth of Chinese items.
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