China to Impose New Tariffs on Additional $75 Billion of U.S. Goods

China has fought back against the U.S. with a decision to impose new tariffs on an additional $75 billion of American goods, the official Xinhua News Agency reported on Friday.

Some of the new Chinese tariffs, which will be 5% or 10%, will take effect on Sept. 1, while the rest will take effect on Dec. 15.