China Retaliates Against the U.S. With Its Own Higher Tariffs

THE NEW YORK TIMES: BEIJING — China’s finance ministry announced on Monday evening that it was raising tariffs on a wide range of American goods to 20 percent or 25 percent from 10 percent, in the first Chinese move to retaliate over President Trump’s broader increase in tariffs on Chinese goods last Friday.

But the finance ministry delayed the implementation of its tariff increase until June 1, a delay of nearly three weeks that allows time for negotiators to make one last push for a deal. The delay roughly matches one that the Trump administration in effect put on its own tariff increase.

Beijing’s retaliation comes at a time when many in China feel that the United States has behaved highhandedly in threatening tariffs. “Mutual trust and respect are of the essence in handling the negotiations,” said Zhu Ning, a Tsinghua University economics professor. » | Keith Bradsher | Monday, May 13, 2019