China unveiled plans on Friday to impose tariffs on up to USD 3 billion of US imports in retaliation against US tariffs on Chinese steel and aluminium products, as the world’s two largest economies stood on the brink of a trade war.
China unveiled plans on Friday to impose tariffs on up to USD 3 billion of US imports in retaliation against US tariffs on Chinese steel and aluminium products, as the world’s two largest economies stood on the brink of a trade war.
China was considering a 15 percent tariff on US products including dried fruit, wine and steel pipes and a 25 percent tariff on pork products and recycled aluminium, the commerce ministry said in a statement on it website.
China has assembled a list of 128 US products in total that could be targeted if the two countries are unable to reach an agreement on trade issues, the ministry added.
US President Donald Trump signed a presidential memorandum on Thursday targeting up to USD 60 billion in Chinese goods with tariffs, but only after a 30-day consultation period that starts once a list is published.
