Trade war escalates as China slaps tariffs on 128 US products

Beijing, April 2

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China has slapped extra tariffs of up to 25 per cent on 128 US products including frozen pork, as well as on wine and certain fruits and nuts, in response to US duties on imports of aluminium and steel, China’s Finance Ministry said.

The list of tariffs, to take effect on Monday, was released late on Sunday and matches a list of potential tariffs on up to $3 billion in US goods published by China on March 23.

China has imposed the tariffs amid escalating trade tension between Beijing and Washington.

US President Donald Trump is preparing to impose tariffs of more than $50 billion on Chinese goods intended to punish Beijing over US allegations that China systematically misappropriated American intellectual property.

China has repeatedly promised to open its economy further, but many foreign companies continue to complain of unfair treatment. China warned the United States on Thursday not to open a Pandora’s Box and spark a flurry of protectionist practices across the globe. Reuters