China hits US with new tariffs on 128 imports, Report

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China hits US with new tariffs on 128 imports, Report
China hits US with new tariffs on 128 imports, Report

China on Monday is slapping tariffs on U.S. shipments to the country, such as meat and fruit.

China announced Sunday that it is implementing new tariffs on more than 120 U.S. imports in response to President Trump’s recent decision to increase taxes on imported steel and aluminum.

The Chinese Ministry of Finance announced that it will impose a 15 percent tariff on 120 products, including fruits and other commodities, according to China’s state news agency Xinhua. It will also impose a 25 percent tariff on pork and related products.

The tariffs will reportedly go into effect starting Monday.

The Chinese had previously indicated they would unveil reciprocal tariffs after Trump announced that steel imports will be taxed at 25 percent and aluminum imports at 10 percent.
U.S. and international lawmakers warned Trump against implementing the tariffs, saying they could spark a trade war. Trump brushed aside those concerns, saying trade wars are “good and easy to win.”

Several countries have since negotiated temporary exemptions from the steel and aluminum tariffs.

In addition, Trump announced late last month his administration plans to target China in particular with tens of billions of dollars in tariffs and penalties on imports to try to curb its efforts to steal intellectual property from U.S. companies.

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