China puts tariffs on US meat and fruits in retaliatory measures
China had warned the us government that it would take action against any USA tariff increase to "safeguard China's interests and balance" trade losses.
Starting tomorrow China will place a 15 to 25 percent tariff hike on 128 USA products including wine, nuts, some fruits, and pork.
There was no indication whether Beijing might exempt Chinese-owned American suppliers such as Smithfield Foods, the biggest USA pork producer, which is ramping up exports to China.
China has slapped extra tariffs of up to 25 per cent on 128 United States products including frozen pork, as well as on wine and certain fruits and nuts, in response to USA duties on imports of aluminium and steel, China's finance ministry said. Washington has indicated certain countries are exempted, but China is not one of them.
The tariffs will be implemented with effect from Monday.
President Xi Jinping of China has retaliated against Donald Trump by hitting the US with tariffs on popular imports like pork and wine.
"Although in violation of WTO (World Trade Organisation) rules, the United States measure went into effect on March 23, which has severely undermined China's interests", according to the finance ministry's statement.
He has promised to bring down the United States' huge trade deficit in goods with China, which reached $375 billion a year ago.
On the other hand the Trump administration will release the list of Chinese imports targeted by the new tariffs this week.
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The Finance Ministry said it was responding to a U.S. tariff hike on steel and aluminium that took effect March 23.
And they fear even more substantial tariffs could be on the horizon.
A number of US business groups have warned that these tariffs could backfire because they could make it harder for American companies to sell goods overseas if other nations retaliate, but Trump and Commerce Secretary Wilbur Ross have expressed skepticism that the impact of these moves would be substantial.
More tariffs between the two countries are possible in the near future.
"China's ultimate goal is to protect its right to use state intervention in any area of the economy at any time for any reason", he said.
China will resolve its debt risks by promoting high-quality growth and productivity, and will push forward structural deleveraging by targeting local governments and companies, Xi said.
China's Ministry of Commerce (MOFCOM) said it was suspending its obligations to the World Trade Organization (WTO) to reduce tariffs on 120 USA goods, including fruit.
The ministry said it had Chinese public opinion on its side after asking for views about the trade measures.
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