China Hits Back in Trade War With US

• 05.14.2019, 11:43
•  America,  Asia,  World

CNN

China has said it will raise tariffs on $60bn (£46bn) of US goods from 1 June, extending a bilateral trade war, BBC reports. 

The move comes three days after the US more than doubled tariffs on $200bn of Chinese imports.

The escalation hit stock markets, with the Dow Jones Industrial Average closing more than 600 points lower.

US President Donald Trump had warned China not to raise levies but Beijing said it would not swallow any "bitter fruit" that harmed its interests.

Items affected include beef, lamb and pork products, as well as various varieties of vegetables, fruit juice, cooking oil, tea and coffee.

Chinese foreign ministry spokesman Geng Shuang told a news briefing in Beijing that China would "never surrender to external pressure".

Stock markets in both Europe and the US fell.