China retaliates by levying tariffs on $60bn of US goods

Just after President Donald Trump intensified the trade war with Beijing by slapping the biggest wave of tariffs, China has now hit back with tariffs on about $60bn worth of US goods.

The tariff rates will be levied at 5 per cent and 10 per cent, instead of the previously proposed rates of 5 per cent, 10per cent,  20 per cent and 25per cent, the Finance Ministry said.

The measures would apply from 24 September, which is the same day that Trump is to impose extra tariffs on $200bn worth of Chinese goods.