BEIJING — The Latest on the tariffs, technology and trade dispute between the U.S. and China (all times local):
China's commerce ministry says that Beijing will use revenues from higher import duties on U.S. products will be used to help companies that may be hurt by the trade dispute with Washington.
The higher duties on U.S. goods went into effect on Friday as the U.S. imposed 25 percent tariffs on roughly $34 billion of Chinese products.
The commerce ministry statement issued Monday said Beijing will use the increased revenue to "alleviate the impact on enterprises and employees." It gave no details.
The statement said importers would be encouraged to shift to buying soybeans and other farm goods from countries that aren't affected by the tariffs.