China's additional tariffs on $60 bln worth of U.S. products take effect

China has started imposing additional tariffs on certain U.S. products from Saturday, according to a statement by the Customs Tariff Commission of the State Council.

The tariffs of 25 percent, 20 percent and 10 percent were imposed on 60 billion U.S. dollars' worth of American exports to China, said the statement.

This action was in response to the U.S. raising tariffs on 200 billion U.S. dollars' worth of Chinese goods from 10 percent to 25 percent.

Earlier, China's Ministry of Commerce said China has decided to establish an "Unreliable Entities List" for foreign entities that fail to obey market rules and harm the legitimate rights of Chinese enterprises.