In an escalation of the trade war between the world's two largest economies, China announced plans to impose tariffs on $60 billion worth of U.S. goods on Tuesday in retaliation for the U.S. decision to impose tariffs on another $200 billion worth of Chinese products.
The Chinese tariffs, which are due to take effect on September 24th, will range from 5 percent to 10 percent, depending on the product.
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