China retaliates against Trump tariffs with levy on US food imports
Responding to US president's tariffs on steel and aluminium, China targets 120 US products including a 25% tariff on frozen pork
China has implemented retaliatory tariffs of up to 25% on $3bn in food imports from the US, raising uncertainty over the possibility of a trade war between the two countries.
China's ministry of commerce said it would be "suspending tariff concessions" on 120 US food products. Fresh and dried fruits, almonds, pistachios and wine would be subject to an additional 15% tariff. Eight other items, including frozen pork, would be subject to a 25% tariff. The tariffs would begin on Monday, the ministry said.
Related: Markets rattled again by trade war fears after Chinese retaliation
Related: Trump's China tariffs risk 'tit-for-tat protectionism' that threatens world economy
Continue reading...