Title : China hits back at Trump with new tariffs on meat, wine and fruit
link : China hits back at Trump with new tariffs on meat, wine and fruit
China hits back at Trump with new tariffs on meat, wine and fruit
China says it is rolling out new tariffs on meat, fruit, wine and other products from the United States as retaliation against taxes approved by US President Donald Trump on imported steel and aluminium.
Key points:
- China increasing tariff on pork products, aluminium scrap by 25 per cent
- China third largest market for US pork exports
- China imposing new 15 per cent tariff on 120 other imported US products
The Chinese Finance Ministry said in a statement the new tariffs would begin on Monday.
The announcement followed warnings Chinese officials had made for several weeks in an escalating trade dispute between the world's two largest economies.
The statement on the ministry website said it was a countermeasure in response to a previous US move to slap tariffs on steel and aluminium imports.
China's Customs Tariff Commission of the State Council said it would increase the tariff rate on pork products and aluminium scrap by 25 per cent.
It said it would also impose a new 15 per cent tariff on 120 other imported US commodities, including almonds, apples and berries.
The tariffs mirrored Mr Trump's 25 per cent charge on imported steel and 15 per cent hike on aluminium.
Although in violation of World Trade Organisation (WTO) rules, the US measure went into effect on March 23, which has severely undermined China's interests, according to the statement from Beijing.
Mr Trump also announced separate plans to slap tariffs on nearly $50 billion in Chinese imports.
Mr Trump's planned tariffs were partly aimed at punishing Beijing for allegedly stealing American technology and pressuring US companies to hand it over.
But the Chinese response could end up hurting American farmers, many of whom are from regions that voted for Mr Trump in 2016.
US farmers shipped nearly $20 billion of goods to China in 2017.
The American pork industry sent $1.1 billion in products, making China the third biggest market for US pork.
AP/Reuters
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