The U.S.-China trade war deepened as Beijing announced retaliatory tariffs on $60 billion of U.S. goods and the Trump administration threatened duties on virtually all Chinese imports.
On Monday, President Donald Trump ordered his administration to levy 10 percent tariffs on about $200 billion in Chinese goods on Sept. 24 and to increase the rate in January to 25 percent if Beijing refuses to offer trade concessions. In retaliation, Beijing has announced plans to hit U.S. goods, ranging from wheat to textiles, with 5 percent to 10 percent tariffs.
