China’s Finance Ministry confirms reciprocal tariffs on 106 US products

China’s Finance Ministry is out with a statement now, via Reuters, confirming the state media reports, citing China is considering levying reciprocal tariffs on 106 US products.

Key Points:

Additional tariffs on US goods confirmed.

The final measure, effective date to be announced later.

US products targeted by new tariffs are worth $50 billion in 2017.

New measures on US products call for additional 25% in tariff.