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___ China retaliates on tariffs, stock markets go into a slide BEIJING (AP) — Deepening its trade battle with the U.S. and sending financial markets spinning, China announced tariff hikes Monday on $60 billion of American goods in retaliation for President Donald Trump's latest penalties on Chinese products.

The Latest: Chinese envoy says trade talks didn't break down

The Latest on the tariffs standoff between the United States and China as trade talks are underway in Washington (all times local): 12:40 p.m. China's government says it will take "necessary countermeasures" in response to President Donald Trump's latest tariff hike on Chinese imports but gave no details of possible retaliation.

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___ US-China talks break up after US raises tariffs WASHINGTON (AP) — Trade talks between the U.S. and China have broken up with no agreement, hours after President Donald Trump more than doubled tariffs on $200 billion in Chinese imports.