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China announces new tariffs on 106 US products, including soy, cars, and chemicals
- The effective start date for the new charges will be revealed at a later time, though China's Ministry of Commerce said the tariffs are designed to target up to $50 billion of U.S. products annually.
- The 25 percent levy on U.S. imports includes products such as soybeans, cars and whisky, Beijing said.
- The move comes less than 24 hours after President Donald Trump unveiled a list of Chinese imports that his administration aims to target as part of a crackdown on what the president deems unfair trade practices.