China announces retaliatory tariffs on $34 billion worth of US goods, including agriculture products
"Trump approves tariffs on $50 billion worth of Chinese goods"
* The Chinese State Council's commission on tariffs and customs said in an online statement that a 25 percent tariff will take effect July 6 on agriculture products, automobiles and "aquatic products."
* The tariffs counter the United States Trade Representative's announcement earlier on Friday that the U.S. will initially impose an additional 25 percent tariff on 818 Chinese imports worth about $34 billion on July 6.
Evelyn Cheng | @chengevelyn Published 15 Hours Ago Updated 12 Hours Ago
CNBC
VIDEO - China threatens to retaliate to new tariffs 15 Hours Ago | 01:59
In a quick response to U.S. tariffs, Beijing announced on Friday its own duties on American products, including the politically sensitive areas of agriculture products and automobiles.
The Chinese State Council's commission on tariffs and customs said in an online statement that a 25 percent tariff will take effect July 6 on $34 billion of U.S. goods.