China is set to impose a tariff of up to 10% on $75bn of goods imported from the US in a move that will increase tensions between the two superpowers.

Agricultural goods, crude oil and small aircraft are among the products being targeted.

The tariff is a retaliation after President Trump revealed plans for a 10% tax on $300bn of goods from China.

The new tariffs will range between 5% and 10% and will apply to more than 5,000 goods coming from the US.

Beijing will also revive a 25% tariff on US car imports that it lifted earlier in 2019 in a goodwill gesture as the two countries tried to negotiate a trade agreement.

The decision – announced shortly before Federal Reserve chairman Jerome Powell gives a closely-watched

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