BEIJING (Reuters) - China said on Monday it would impose higher tariffs on most U.S. imports on a revised $60 billion target list, hitting back at a tariff hike by Washington on $200 billion of Chinese goods in a further escalation of a bitter trade war.
Beijing had set additional rates of 5% and 10% on 5,207 U.S. products worth $60 billion in September, in response to the U.S.'s initial 10% duty on the $200 billion worth of Chinese goods, and warned at the time that it would counter any higher tariffs imposed by Washington.
appl -4% Iphone prices can go up over 160$ per unit...SMASH!
cisco -3%
boeing -3%
SMASH!