Breaking News: China to impose 25 pct tariff on 659 U.S. Goods worth $50 bln - Xinhua

Citing state councils, Chinese news outlet Xinhua has reported that China would start imposing 25% tariffs worth of $50 billion on 659 U.S. goods. 

According to Xinhua, $34 billion of those tariffs will include agricultural products and autos and will to take effect from July 6. Tariffs on other U.S. goods will be announced at a later date.