Beijing: China increased tariffs on billions worth of US goods as it prepares to unveil a blacklist of “unreliable” foreign companies that analysts say aims to punish US and foreign firms cutting off supplies to telecoms giant Huawei.
Yesterday’s move hits US$60bil (RM250.85bil) worth of US goods with new punitive tariffs ranging from 5% to 25%, and comes in retaliation for Washington raising punitive tariffs on US$200bil (RM836bil) in Chinese goods to 25%.
