image

US-China trade war: All stories

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

PUBLISHED : Friday, 23 March, 2018, 9:41am
UPDATED : Friday, 23 March, 2018, 12:34pm

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. 

The commerce ministry said the US must address China’s concerns and called for dialogue to address trade conflicts.

Read China’s furious response to Donald Trump’s US$60b tariffs – in full

The ministry also said in a separate statement that Trump’s trade actions announced on Thursday had “created a very bad precedent” and China was fully prepared to defend its interests.

“China doesn’t want a trade war, but is never frightened of a trade war.

“We are confident and capable of handling any challenge. We hope the US pulls back before it is too late, makes decisions prudently and does not drag the bilateral trade and economic relationship into danger,” it said.