China announced plans to raise duties on some American importsstarting June 1, defying a call from President Donald Trump toresist escalating a trade war that is sending stocks tumbling andclouding the outlook for the global economy.
Less than two hours after Trump tweeted a warning that “Chinashould not retaliate—will only get worse!” the Ministry of Financein Beijing unveiled the measures on its website. The new rate of 25percent will apply to 2,493 U.S. products, with other goods subjectto duties ranging from 5 percent to 20 percent, it said.
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