China announced additional tariffs on US goods effective June 1

China announced Monday that as of June 1, it would raise tariffs on $60 billion of US goods. The tariff increases would hit a wide range of sectors ranging from manufacturing to agriculture and household goods. China said 2,493 items coming from the US would see tariffs of 25%, including liquefied natural gas (LNG), agricultural items and more. China also said that tariffs on another 1,078 goods would see tariffs of 20% and another 974 products would have tariffs of 10%. Those lists included household goods, along with apparel and related manufacturing equipment. A smaller list of 595 items would not see an increase beyond the present level of 5%. However, President Donald Trump indicated he would meet with Chinese President Xi Jinping while at the G20 summit in Japan in late-June. "Maybe something will happen," Trump told reporters at the White House. "We are going to be meeting, as you know, at the G20 in Japan and that will be, I think, probably a very fruitful meeting."