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China Strikes Back At Trump With New Tariff Hikes

Law360 (May 13, 2019, 10:46 AM EDT) -- The Chinese government retaliated against the Trump administration’s tariff hike with a duty increase of its own on Monday, increasing its levy on $60 billion worth of U.S. goods and ramping up the ongoing trade dispute between the two economic powerhouses.

China’s Finance Ministry raised the 10% levy it imposed last September to 20% and 25%. However, the tariff hike will not take effect until June 1, allowing for a few more weeks for the two sides to strike a deal that will stem the rising tariff tide.

But the negotiating prospects are not looking bright, as talks between the two...

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