China threatens retaliatory tariffs on U.S. goods

China said Friday that it is planning to raise tariffs on up to $3 billion of U.S. goods in retaliation for U.S. President Donald Trump's decision to impose higher tariffs on some Chinese imports.While the tit-for-tat exchange has increased the prospect of a trade war between the world's two biggest economies, the Chinese Commerce Ministry said Beijing hopes to resolve trade disputes with the United States through dialogue and consultation.The U.S. move is "a totally unilateral action" and "a bad example" to the international community, Foreign Ministry spokeswoman Hua Chunying said at a pr…READ FULL ARTICLE