China announced it will raise the rate of tariffs imposed on US$60 billion worth of imports from the United States from June 1 onward.
The retaliation measure came three days after the US moved to increase tariffs on US$200 billion worth of Chinese goods from 10% to 25% as of May 10.
“The measure taken by the US escalated trade frictions and violated the consensus reached by both sides to tackle trade disputes through consultations,” the authorities said in a statement issued by the Customs Tariff Commission of the State Council.
“The US move damaged the interests of the two sides and did not meet universal expectation of the international community,” the statement said.
China earlier imposed additional tariffs on US$60 billion worth of US imports. The rates of additional tariffs on some of the products will now be increased to 25%, 20%, and 10%.
The statement said China hopes that the US will return to bilateral economic and trade consultations, to meet each other halfway and strive to reach a mutually beneficial and win-win agreement.