China will raise tariffs on $60 billion in U.S. goods in retaliation for the U.S. decision to hike duties on Chinese goods.
Tariffs will be raised from 10% to 25% effective June 1, 2019 in a move that is sure to spark concern in global markets as the trade war between the two countries continues to escalate.
Source: China is raising tariffs on $60 billion of US goods starting June 1
