China said it will institute new tariffs on U.S. goods worth $60 billion on Sept. 24, according to a Reuters report.

The media outlet said the Asian country's tariff rate on a list of 5,207 U.S. products will range between 5 percent and 10 percent.

On Monday, President Donald Trump's administration announced it will impose 10 percent tariffs on about $200 billion of imports from China effective Sept. 24. Trump, in a statement, said the tariffs would rise to 25 percent on Jan. 1, 2019.