China threatens another $60 billion worth of retaliatory tariffs

China on Friday threatened to impose additional tariffs on $60 billion worth of U.S. goods, including coffee, honey, and some industrial chemicals in the ongoing trade dispute between the two nations. China’s Ministry of Finance said the United States’ recent proposal to impose additional 25 percent duties on $200 billion worth of Chinese goods would damage the global economy. The rift began when the Trump administration on July 6 imposed 25 percent duties on $34 billion of Chinese goods over the country’s technology policies. China responded with charges on the same amount of U.S. goods. “China is forced to take countermeasures,” the Foreign Ministry said in its statement.