China has made its first move in what now looks like a trade war with the United States, following its warning on Mar. 23. In retaliation for newly announced US tariffs on $50 billion worth of Chinese goods, China will impose tariffs on 128 US goods, effective today.
According to a list published by China’s Ministry of Commerce (pdf), the tariffs apply to 128 US products: Of them, 120 products ranging from dried fruits to stainless steel pipes will receive an extra 15% import tax, while eight will have to bear a 25% tax hike. The latter category consists of seven different kinds of pork products and aluminum scrap. According to data from the ministry, the group of goods taxed at 15% make up $977 million of US exports to China. The eight products subject to the 25% tariff make up $1.992 billion, for an overall total of nearly $3 billion.
In a statement published on China’s Ministry of Commerce’s website (link in Chinese), China accused the US of violating World Trade Organization regulations, and announces the suspension of “substantive equal concessions and other obligations to the United States” to “effectively protect China’s interests.”
Below is the full list of goods that will face tariffs upon import to China:
📬 Sign up for the Daily Brief
Our free, fast, and fun briefing on the global economy, delivered every weekday morning.