China claps back at The US and Donald Trump ramped up the trade war. 

The Chinese government said Tuesday that it would impose tariffs on US goods worth $60 billion following the Trump administration’s announcement that it was hitting $200 billion worth of Chinese goods with new tariffs.

The US tariffs start at a rate of 10%, before rising to 25% at the end of the year. They come into effect on September 24, and will apply to thousands of Chinese products, ranging from food seasonings and baseball gloves to network routers and industrial machinery parts. China’s new tariffs will be levied at rates of 5% or 10%, depending on the product, from the same date, China’s state council said. 

Businesses are suffering throughout the madness. There is uncertainty over trade talks. The principal objective of the tariffs is probably not to bring Beijing to the bargaining table,” Arthur Kroeber, a senior analyst at research firm Gavekal said in a note Tuesday. “Rather, it is to force US multinational companies to pull back their investments in China, so that the interdependence of the two rival economies is reduced.”

“Against this aim, no possible offer by China can cause the tariffs to be lifted.”