China Plans Reciprocal Tariffs on $3 Billion of U.S. Imports
(Bloomberg) -- China announced plans for reciprocal tariffs on $3 billion of imports from the U.S., including products from steel to pork, after President Donald Trump’s move to order levies on a range of Chinese goods sent markets plunging.
China plans to take legal action against the U.S. under the World Trade Organization framework, the Commerce Ministry said in a statement Friday. It plans a 25 percent tariff on U.S. pork imports and 15 percent tariffs on American steel pipes, fruit and wine, the statement said.
In the statement, China urged the U.S. to resolve the trade dispute via dialogue.
Trump earlier instructed U.S. Trade Representative Robert Lighthizer to levy tariffs on at least $50 billion in Chinese imports. Within 15 days, USTR will come up with a proposed list of products that will face higher tariffs.
To contact Bloomberg News staff for this story: Li Liu in Beijing at firstname.lastname@example.org.
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With assistance from Li Liu