China retaliatory tariffs on $16 billion US goods to begin on 23 August

Responding to a new set of US tariffs on Chinese goods, targeting $16 billion worth of imports, China's commerce ministry slapped retaliatory tariffs on $16 billion of US goods, beginning August 23.

Key quotes:

   •  The decision by the US is very unreasonable.
   •  China is forced to retaliate.
   •  The tariffs will also be levied at 25%.