China slaps tariffs on 128 US products
Beijing, Apr 2 (IBNS): In a major development that can further escalate trade war between the two nations, China on Monday suspended tariff concessions on 128 items of U.S. products including pork and fruits starting Monday, media reports said.
The Customs Tariff Commission of the State Council has decided to impose a tariff of 15 percent on 120 items of products imported from the United States including fruits and related products, and a tariff of 25 percent on eight items of imports including pork and related products from the country, Xinhua news agency of China reported quoting a statement posted on the country Ministry of Finance website.
"The statement said it was a countermeasure in response to a previous U.S. move to slap tariffs on steel and aluminum imports," read the Xinhua report.
Alleging years of intellectual property theft by China, the White House announced last month that it is planning to impose tariffs on Chinese imports.
The US said that it could impose tariffs up to $60bn on Chinese imports, stating that the action was an important measure to counter 'unfair competition' from China.
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