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China Mulls Higher Tariffs on US Imports

© AP Photo / Ted S. WarrenChinese and US flags. (File)
Chinese and US flags. (File) - Sputnik International
BEIJING (Sputnik) - China’s Commerce Ministry on Friday unveiled a list of 128 imported US goods, including American pork, fruits and wine, subject to higher duties, in a bid to offset the recent metal tariffs imposed by Washington.

The authority said it would study public feedback and accept suggestions from businesses and experts until the end of March, before making a decision.

Earlier in March, US President Donald Trump signed an order to impose a 25-percent import tax on steel and 10-percent duties on aluminium, effective this Friday. It was followed by a memorandum on Thursday to impose $60 billion in extra tariffs on China over allegations of intellectual theft.

Financial Markets Wall Street Download Comp  Tag as... Cancel Apply Back to search results3of26,228 results FINANCIAL MARKETS WALL STREET Overview Download now   Trader Fred DeMarco, left, works with colleagues in a booth on the floor of the New York Stock Exchange, Thursday, March 22, 2018. Stocks are falling sharply and bond prices are climbing after the Trump administration moved to place tariffs on some goods imported from China and restrict Chinese investment. - Sputnik International
Stocks Tumble After Trump Slaps Tariffs on $60B in Chinese Imports
Foreign Ministry Spokesman Lu Kang responded to Trump's new policy, promising that China would take retaliatory measures against the United States in the event new tariffs are imposed on Chinese products.

Recently, Chinese embassy said that China was disappointed by the US decision to slap billions worth of tariffs on its imports, urging Washington to reconsider the move.

"It is a typical unilateral trade protectionist action. China is strongly disappointed and firmly opposes such an action," the statement read. "We urge the U.S. to cease and desist, make cautious decisions, and avoid placing China-U.S. trade relations in danger."

The Chinese mission said Beijing had made "sincere" proposals on how to address the existing US-China trade imbalance, estimated by Trump last year at almost $800 billion, but warned it was ready for a trade war.

Combine harvesters crop soybeans. (File) - Sputnik International
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"China does not want a trade war with anyone. But China is not afraid of and will not recoil from a trade war. China is confident and capable of facing any challenge. If a trade war were initiated by the U.S., China would fight to the end to defend its own legitimate interests with all necessary measures," it said.

China argued that the US trade policy was self-defeating and would harm the interests of US consumers, companies, and financial markets, as well as jeopardize international trade order and world economic stability.


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