China to levy tariffs on US agricultural and steel products after US$60 billion Trump penalties
Beijing to place levies on range of US goods as fears grow of a trade war between the world’s two largest economies
China is to levy tariffs on US goods, including agricultural and steel products, after US President Donald Trump announced plans to impose charges of US$60 billion on Chinese imports.
The Ministry of Commerce said on Friday China would impose 15 per cent import tariffs on 120 types of US products, including fruit, wine and steel pipes, worth US$977 million.
It also plans to impose 25 per cent import levies on another eight categories of products worth US$2 billion, including pork and recycled aluminium.
China’s countermeasures were a direct response to US penalties on steel and aluminium products unveiled on March 8.
But the list was released hours after Trump announced a US$60 billion levy plan to counter China’s “economic aggression” based on an investigation into allegations that Chinese firms stole US intellectual property.