China announces retaliatory tariffs on $75 billion worth of U.S. goods

The Chinese government has announced plans to impose tariffs on $75 billion worth of U.S. goods, including retaliatory tariffs on cars, according to Chinese state-run media. The retaliatory tariffs will take effect in two waves, mirroring the imposition of U.S. tariffs on roughly $270 billion worth of Chinese goods. Tariffs of 5 percent and 10 percent will be imposed on $75 billion worth of U.S. goods on Sept. 1 and cover roughly 5,078 products , according to CGTN, a Communist...