Trade war: China hits back at US with tariffs on goods worth $60 billion

The tariffs will take effect on June 1, according to a statement on the Ministry of Finance's website

China said on Monday it would impose higher tariffs on a range of US goods including frozen vegetables and liquefied natural gas, striking back in its trade war with Washington after US President Donald Trump warned it not to.

The move, widely expected after the US last week raised tariffs on $200 billion in Chinese imports, heightened fears the world’s two largest economies were spiralling into a no-holds-barred dispute that could derail the global economy.

China’s finance ministry said it plans to set import tariffs ranging from 5 per cent to 25 per cent on 5,140 US products on a