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China has raised tariffs on $60 billion worth of US products to 25% in retaliation to the US doubling its tariffs on $200bn worth of goods.

The Chinese government had previously introduced tariffs of between five and 10% on over 5,000 products. It also announced plans to blacklist a number of international companies that are harmful to the country's interests.

China's Commerce Ministry said the move would tackle "unilateralism and trade protectionism".

"At present, the world economic development is uncertain and unstable factors are increasing," Ministry of Commerce spokesman Gao Feng said.

"Unilateralism and trade protectionism are on the rise. The multilateral trading system is facing severe challenges, and normal international economic and trade activities are negatively disrupted."

The two countries have been at odds with each other over trade tariffs for several months. They were locked in trade talks, but ultimately failed to find an agreement to bring to an end the hostility.