SHANGHAI — The Chinese government announced on Friday that it would retaliate against President Trump’s next two batches of tariff increases on Chinese goods by imposing its own tariff increases on American imports, in the latest sign that neither side is prepared to back down in their trade war.
The State Council Tariff Commission in Beijing said it would impose extra tariffs of 5 percent or 10 percent on $75 billion worth of American goods. The new tariffs will take effect on Sept. 1 and on Dec. 15, according to the commission, which did not provide the value of how much would be penalized in the first batch and how much in the second.
Those are the same dates when Mr. Trump’s next batches of 10 percent tariffs are scheduled to take effect. Chad Bown, a senior fellow at the Peterson Institute for International Economics in Washington, estimated earlier this month that the tariff categories identified by the Trump administration represented $112 billion in goods facing extra 10 percent tariffs on Sept. 1 and a further $160 billion on Dec 15.
The news from Beijing sent markets lower in Europe in afternoon trading there. Futures markets indicated that Wall Street would open lower, too.
Mr. Trump had originally threatened to impose the extra tariffs at the start of September. But he delayed more than half the tariffs until December and canceled them entirely for a few categories, so as to allow time for American stores to stock up before the Christmas shopping season.