UPDATE: China to lift tariffs on America imports as retaliation

The Chinese State Council on Monday, 13 May 2019 announced that the country is planning to escalate tariffs on the USD 60 billions worth of US imports to 10%, 20% and 25% from the levels now at 5% and 10%, starting 1 June 2019. 

Products that would face 25% tariffs included animal products, frozen fruits and vegetables and seasonings. Meanwhile, the Chinese government would maintain 5% tariffs on vehicle parts, medical equipment and farm equipment such as tractors.

China is not planning to expand the tariffs to other US imports that are not currently facing levies, including Boeing Co. passenger jets and crude oil.

Analysts said that The 1 June deadline would allow the two countries some time to negotiate on the trade deal before the tariffs kick in.