China to Raise Tariffs <br />on $60 Billion of US Goods Tariffs on more than 5,000 products <br />will be raised in retaliation for the <br />U.S. hike on Chinese goods. The tariff hike, which is high as <br />25% on some products, will <br />go into effect on June 1. A 20% hike in duties heavily <br />targets farmers who raise poultry, <br />peanuts, wheat and sugar. Recently, U.S. President Donald Trump <br />raised tariffs on Chinese products from 10% to 25%. Following the announcement <br />from Beijing, stocks indexes <br />plunged more than 700 points. Recent trade talks between the <br />U.S. and China ended without a deal. Treasury Secretary Steve Mnuchin <br />says negotiations between the <br />two countries are ongoing.
