China is preparing to impose differentiated additional tariffs on $60 bn worth of imports from the United States, if the latter further escalates trade frictions, the customs tariff commission of China’s State council announced on July 3. The plan is to target 5,207 categories of US products with four levels of tariff rate percentages—25, 20, 10 and 5. Many of these goods are agriculture-related and others relate to various metals and chemicals.