China's finance ministry said Tuesday it will impose additional tariffs of 15% on coal and liquified natural gas imports from the U.S. and 10% higher duties on crude oil, farm equipment and certain cars,

China retaliated immediately on Tuesday as a 10% U.S. tariff on Chinese goods went into effect, announcing its own levies of 10% to 15% on some U.S. products.

Beijing immediately responded to new U.S. tariffs on Tuesday, renewing a trade war between the world's top two economies as President Donald Trump sought to punish China for not halting the flow of illicit drugs.