(BEIJING) — China on Tuesday announced a tariff hike on $60 billion of U.S. products in response to President Donald Trump’s latest duty increase in a dispute over Beijing’s technology policy. The announcement followed a warning by an American business group that a “downward spiral” in their conflict appeared certain following Trump’s penalties on $200 billion of Chinese goods. The Finance Ministry said it was going ahead with plans announced in August for the increases of 10 percent and 5 percent on 5,207 types of U.S.