China imposes tariffs on 128 items of U.S. imports
China is imposing new tariffs on meat, fruit and other products from the United States,... raising fears of a possible trade war between the world's two largest economies.
Kim Hyesung has the details.
China has imposed new tariffs of up to 25 percent on U.S. imports,... in response to U.S. duties on imports of steel and aluminum.
The Chinese finance ministry said in a statement Sunday that it is increasing the tariff rates on 128 kinds of U.S. products, including pork and fruits, with the new rates coming into effect on Monday.
Beijing said the move was to "safeguard China's interests" and balance losses caused by new U.S. tariffs.
It's expected to have an impact of around three billion U.S. dollars.
Tariff rates on eight imported U.S. products, including pork and U.S. scrap aluminum will be subject to a 25 percent additional tariff - on top of existing duties.
China is also imposing a new 15 percent tariff on 120 imported U.S. commodities, including fruits and nuts.
The announcement comes after Beijing has made warnings for several weeks in an escalating trade dispute with the United States.
"We have said many times that China does not want to fight a trade war. But we have also said if we are forced to enter into a trade war, China has the stamina and the confidence to protect its interests."
The tariffs mirror T’s 25 percent charge on imported steel and 15 percent hike on aluminum announced in March.
According to the U.S.-China Business Council, U.S. goods exported to China in 2016 totaled around 113 billion dollars, making China the United States' third largest export market.
U.S. President Donald Trump has said Washington is planning to impose duties on about 50 billion dollars of Chinese goods,... intended to punish Beijing for U.S. allegations that China systematically misappropriated American intellectual property.
U.S. Trade Representative Robert Lighthizer has until April 6 to release the tariff list.