China proposed retaliatory tariffs on $60 billion of US imported goods across a range of sectors on Friday in the latest tit-for-tat exchange between Beijing and Washington.
The latest list of 5,207 goods includes agricultural and indsutrial goods such as coffee and semiconductors, with a notable inclusion of liquified natural gas (LNG), reports Reuters. China is the US’s third-largest customer for LNG, but the US makes up only a small fraction of China’s energy supply network.
The announcement brings the value of US imports caught in the crosshairs of trade tensions up to $110 billion, just $20 billion short of the total value of what the US sold to China in 2017. The latest levies range will range from 5 to 25%.
The move comes in response to the White House’s commitment to raise proposed tariffs on $200 billion of Chinese imports to 25%.
“The US side has repeatedly escalated the situation against the interests of both enterprises and consumers,” said China’s Commerce Ministry in a statement. “China has to take necessary countermeasures to defend its dignity and the interests of its people, free trade and the multilateral system.”