China hits back in escalating trade war, announces tariffs on $60B of U.S. goods

China struck back Monday in its escalating trade war with the U.S., saying it intends to raise tariffs on $60 billion worth of American products starting June 1.

Levies will be raised from 10% to 25% on nearly 2,500 goods, the Chinese government said.

The Asian superpower is retaliating for ...