How will China counter U.S. trade threats?
China announced a list of $60 billion worth of U.S. imports it plans to apply tariffs on should Washington follow through with its latest trade threats, Bloomberg writes.
Duties ranging from 5% to 25% will be levied on 5,207 kinds of American imports if the U.S. delivers its proposed taxes on another $200 billion of Chinese goods, the Ministry of Finance said in a statement on its website.
Beijing plans to impose an additional 5% in tariffs on about 600 kinds of products including planes and computers, another 10% on almost 1,000 products including wigs and textiles, an extra 20% on more than 1,000 items including some chemicals, cookers and paper, and an additional 25% on over 2,400 products such as meat, wheat, wine and LNG, according to the statement.
US President Donald Trump this week ordered officials to consider imposing a 25% tax on $200 billion worth of imported Chinese goods, up from an initial 10% rate.