China announces tariffs on $60-bn worth of US goods in latest salvo

China on Friday announced retaliatory tariffs on $60 billion worth of US goods ranging from liquefied natural gas (LNG) to some aircraft and warned of further measures, signalling that it won't back down in a protracted trade war with Washington.

China's finance ministry unveiled new sets of additional tariffs on 5,207 goods imported from the United States, ranging from 5 to 25 percent.

Timing will depend on the actions of the United States, the Chinese Commerce Ministry said in a separate statement.

The Trump administration ratcheted up pressure for trade concessions from Beijing this week by proposing a higher 25 percent