China set to push back on latest levies

$60 billion worth of US products in crosshairs after most recent escalation

China will place tariffs on about $60 billion worth of imports from the United States in response to Washington's announcement of additional levies on $200 billion worth of Chinese goods, the Customs Tariff Commission of the State Council said on Tuesday.

Beijing announced on Tuesday its plans to slap additional tariffs on 5,207 categories of US products with two rate levels, 10 percent and 5 percent, according to a statement. The new tariffs levied by China will become effective on Monday.