China to impose retaliatory tariff on 128 US products worth $3 billion

China to impose retaliatory tariff on 128 US products worth $3 billion

China to impose retaliatory tariff on 128 US products worth $3 billion

BEIJING, 23rd March, 2018 (WAM) -- China unveiled plans, on Friday, to impose tariffs on up to $3 billion of US imports in retaliation against US tariffs on Chinese steel and aluminum products.

China was considering a 15 percent tariff on US products, including dried fruit, wine and steel pipes, and a 25 percent tariff on pork products and recycled aluminum, the commerce ministry said in a statement on its website.

China has assembled a list of 128 US products in total that could be targeted if the two countries are unable to reach an agreement on trade issues, the ministry added.

US President Donald Trump signed a presidential memorandum on Thursday targeting up to $60 billion in Chinese goods with tariffs, but only after a 30-day consultation period that starts once a list is published.

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