International Taxes

China plans for reciprocal tariffs on US imports: report

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China is planning on imposing reciprocal tariffs on $3 billion worth of U.S. imports, Bloomberg News reported Thursday, following President Trump’s move to impose levies on Chinese products.

The Chinese measures include a 25 percent tariff on U.S. pork imports and 15 percent tariffs on steel pipes, fruit and wine, according to the report.

The country is also planning on taking legal action against the U.S. through the World Trade Organization, Bloomberg reported.


Chinese officials in a statement called on the U.S. to resolve the trade issues through talks.

The reported moves come just hours after Trump announced plans to impose tens of billions of dollars in tariffs and penalties on imports from China to try to curb Chinese efforts to steal intellectual property from U.S. companies. 

Trump said the new tariffs could total about $60 billion, while his own advisers said the figure would be closer to $50 billion.

The new measures focused on China are separate from the steep tariffs on steel and aluminum imports that Trump ordered earlier this month.

While those tariffs applied to imports from all nations, including China, the administration has moved to exempt several other countries from the measures.

Trump’s actions on trade this month have sparked fears of a global trade war while his administration has pushed to specifically target Beijing in its latest round of tariffs.

Tags China Donald Trump Tariffs
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