China is imposing tariffs on more than 125 US imports including fruit and pork, heightening fears of a trade war between the two countries.
Tariffs of up to 25 per cent go into effect on Monday as President Xi Jinping’s government followed through on a threat to impose the measures.
China confirmed it has suspended duty concessions on 128 US imports after President Donald Trump’s tariffs on steel and aluminium “caused serious damage” to Beijing’s interests.
Global markets were shaken in March when Trump announced he would impose tariffs on Chinese goods as part of his “America first” agenda.
Beijing had threatened tariffs after the US moved to impose them
Beijing struck back just days after the Trump administration said the tariffs on Chinese goods may not be imposed until early June.
“In order to safeguard China’s interests and balance the losses caused by the US measures to China’s interests, China has suspended duties on seven categories of 128 imported goods originating in the United States from duty duties on April 2, 2018, based on the current applicable tariff rates.
“Tariffs have been imposed on the importation of tariffs on 120 items of imported goods such as fruits and products, and a tariff rate of 25 per cent on 8 items such as pork and products. The current policy of tax-free and tax-exemption remains unchanged.”
China is imposing a 15 per cent tariff on the 120 goods including fruit, the state-owned China News Service reported.
The Trump administration hasn’t published its list of Chinese goods that will face tariffs, but US Trade Representative Robert Lighthizer told CNBC last week it would total more than $50bn (£35bn) and include “largely high-technology things”.
