China slaps tariffs on $60 billion in U.S. imports as trade war between Beijing and Washington escalates

China said Monday it will slap tariffs on more than 5,000 U.S. products in retaliation for President Donald Trump’s decision to raise duties on Chinese goods amid trade talks between the world’s two largest economies.

China’s Ministry of Finance said the new tariffs would impact $60 billion in U.S. imports and would range from 5% to 25%. The tariffs will take effect June 1, which would give the two sides time to resume trade negotiations that broke off last week without reaching a new deal.

The tariffs will impact a...