China threatens more tariffs if Trump further escalates his trade war

China will impose new tariffs ranging from 5 to 25 percent on American goods worth $60 billion, Beijing said Friday, if the Trump administration follows through on its threat to impose new U.S. tariffs on $200 billion in Chinese products.

(Bloomberg)

"In violation of the bilateral consensus reached after multiple rounds of negotiations, the United States has again unilaterally escalated trade frictions," the Chinese State Council Tariff Commission said in a statement.

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"Don't underestimate President Trump's determination to follow through," White House economic adviser Larry Kudlow responded in a Bloomberg interview.