On Tuesday China announced that it will have to react to new tariffs imposed by the US, Reuters reports.

Beijing's announcement came after President Trump “activated” 10% tariffs to $200 billion of goods from China, and promised to apply additional duties on $267 billion products, if Beijing takes countermeasures.

Tariffs will come into effect on September 24, however, the rate will be increased to 25% by the end of 2018. Recent duties left out Apple’s products and other consumer goods. But if new duties are applied to the rest of Chinese imports, this category will be hit as well.

China has not made a final decision in regards to new round of talks with the US. By this moment, Beijing imposed or planned duties on $110 billion of goods from the US, which is almost all import volume from this country.

Representatives of corporate America view this measure as ineffective, as it will mostly hurt US consumers and US companies.