* Trump announced new tariffs on Chinese goods after Beijing’s emissaries walked away from trade talks
* China announced its own new tariffs Monday, saying it will tax $60 billion of U.S. imports at the border beginning in June
* China will never surrender to external pressure,’ foreign ministry spokesman Geng Shuang said
* Stocks opened sharply down on the news as jittery traders wondered about the impact on the U.S. economy
* Dow Jones Industrial Average plunged more than 650 points between overnight trades and early afternoon stock market action
* Trump now claims companies will move out of China to avoid paying U.S. tariffs
* Washington-Beijing trade war could be ended with a negotiated deal but none appears imminent
Markets plunged Monday after China said it would hike import tariffs to as high as 25 per cent on U.S. goods, and bluntly told Donald Trump it would ‘never surrender’ on trade.
The Dow Jones Industrial Average fell more than 475 when markets opened, and fell 700 points by 1.30 p.m.
The sell-off came after China raised tariffs, first imposed in 2018, on $60 billion of American goods, saying they will go into effect on June 1.
‘China will never surrender to external pressure,’ foreign ministry spokesman Geng Shuang said during a regular press briefing on Monday.
Read more ….
China defies Trump with new round of tariffs on U.S. goods — Reuters
China retaliates on tariffs, stock markets go into a slide — AP
China announces tariff hike on US goods in tit-for-tat trade war — France 24
China to raise tariffs on US$60 billion of US goods on June 1 — SCMP
China to raise tariffs on $60 billion of US goods — The Hill
China to hike tariffs on $60 billion of US goods — DW
China hits back at US with tariffs on $60bn of products — The Guardian
China announces retaliatory tariffs on $60 billion in U.S. goods — UPI
China strikes back at Trump’s new tariffs, targeting $60 billion in US exports — RT
China to increase tariffs on $60bn worth of US goods — Al Jazeera
No surrender in China as markets react to latest US trade tariff hike — DW