China to hike tariffs on $60 billion in US goods
![Money_1445129991941_371010_ver1.0_640_360_1551737138072-403440-403440-403440.jpg](https://images.foxtv.com/static.fox32chicago.com/www.fox32chicago.com/content/uploads/2019/08/764/432/fa065e4d-Money_1445129991941_371010_ver1.0_640_360_1551737138072_6850820_ver1.0_640_360.jpg?ve=1&tl=1)
Credit: WJZY
BEIJING (AP) - China has announced it is raising tariffs on $60 billion in U.S. goods in retaliation for the latest penalties on its exports announced by the Trump administration.
The Finance Ministry said Monday the penalty duties of 5% to 25% on hundreds of U.S. products including batteries, spinach and coffee take effect June 1.
That followed Trump's increase Friday of duties on $200 billion of Chinese imports from 10% to 25% in a dispute over Beijing's technology ambitions and trade surplus.