China threatens to retaliate with differential tariffs on $60 billion worth of US goods

Saul Loeb/Pool Photo via AP

• China threatened to impose differential tariffs on $60 billion worth of US goods.
• The move comes after the Trump administration threatened to raise the tariff rate on an additional $200 billion worth of Chinese goods. 
• The two countries have already imposed about $34 billion worth of tariffs on each other.

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China announced Friday it would hit the US with retaliatory tariffs on about $60 billion worth of goods if the Trump administration continued to escalate a trade war between the two countries. 

The tariffs would be imposed at four different tax rates, the Ministry of Commerce said in a statement. 

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