China retaliates with $3B in new tariffs on U.S. imports

China retaliates with $3B in new tariffs on U.S. imports
UPI

April 2 (UPI) — New punitive tariffs by China on imported products from the United States — retaliation for fiscal penalties imposed by President Donald Trump’s administration — took effect Monday.

China’s Ministry of Commerce on Sunday announced tariffs on U.S. imports, largely agricultural products and metals, saying Beijing’s interests “were seriously damaged” by Trump’s March 22 decision to apply tariffs to imported Chinese steel and aluminum.

China’s new tariffs affect 128 U.S. products across seven categories, worth about $3 billion.

“The first part covers a total of 120 taxes involving $977 million in U.S. exports to China, including fresh fruits, dried fruits and nut products, wines, modified ethanol, American ginseng, and seamless steel pipes, which is expected to impose a tariff of 15 percent,” the ministry said in a statement. “And the second part covers a total of eight taxes involving $1.992 billion of U.S. exports to China, including pork and its products, recycled aluminum and other products, with a proposed tariff of 25 percent.”

The ministry said some in Beijing wanted stronger measures against the United States. The agreed upon tariffs apply only to a small fraction of U.S. imports.

Monday, Chinese officials urged more trade talks between Beijing and Washington, and called on U.S. officials to revoke protectionist trade measures they say violate World Trade Organization rules.

The U.S. and Chinese tariffs have worried some that a trade war looms between both economic powers.

In March, Trump said he’s preparing another $50 billion worth of tariffs on Chinese goods to punish Beijing for “theft” of intellectual property.

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