China Announces $60 Billion in New Tariffs on US Goods

U.S. President Donald Trump and Chinese leader Xi Jinping attend a welcome ceremony at the Great Hall of the People in Beijing on Nov. 9, 2017. Nicolas Asfouri/AFP/Getty Images

Beijing proposed a set of new retaliatory tariffs on $60 billion worth of American goods on Aug. 3 in the latest salvo of its trade war with Washington.

The tariffs are not yet in effect with China’s commerce ministry saying that timing will depend on action from the United States.