The tariffs of 10 per cent and 5 per cent take effect on two batches of goods on September 1 and December 15, the official Xinhua News Agency said
International benchmark Brent crude futures were at $58.70 a barrel by 0039 GMT, down 24 cents, or 0.41%, from their previous settlement and trading near seven-month lows
The unanticipated trade tensions that cropped up between two major economies in the world-the US and China- have since spooked the global markets