China Plans Tariffs on $60 Billion of Imports to Counter Trump

China announced a list of $60 billion worth of U.S. imports it plans to apply tariffs on should the Trump administration follow through with its latest trade threats. Duties ranging from 5 percent to 25 percent will be levied on 5,207 kinds of American imports if the U.S. delivers its proposed taxes on another $200 billion of Chinese goods, the Ministry of Finance said in a statement on its website late Friday. Beijing plans to impose an additional 5 percent in tariffs on about 600 kinds of products including planes and computers, another 10 percent on almost 1,000 products including wigs and textiles, an extra 20 percent on more than 1,000 items including some chemicals, cookers and paper, and an additional 25 percent on over 2,400 products such as meat, wheat, wine and LNG, according to the statement. Read more here.