China hits U.S. with tariffs
Beijing (AFP): China is retaliating against the Trump administration’s tariffs on Chinese goods, imposing charges of its own Monday on a list of 128 imports from the United States, including agricultural products ranging from fruit to frozen.
China retaliated by imposing tariffs of up to 25 per cent on 128 US imports worth a total of $3bn.
Hours before US stock markets opened on Monday, the Chinese began enforcing the new tariffs on American imports including pork and scrap aluminium.
Just a few weeks ago, United States President Donald Trump enacted countless tariffs on imports from China, requiring Chinese organizations to foot the tax bill. He felt that such tariffs would promote business within the United States of America.
While such an assumption is certainly reasonable, even more, reasonable and realistic would be to assume that China would fire back with just as many tariffs, if not more.
Such tariffs formally went into effect on Monday, April 2, 2018, and have been levied on a whopping 128 popular American exports, including meat, fruit, and finished goods like metal tubing.
Chinese government officials initially proposed these tariffs a week and a half ago, and made it very clear that they were in direct response to tariffs set forth by United States President Donald Trump on steel and aluminum.