Just a day after China indicated that it is ready to retaliate if needed, the nation pulls up a list of $60 billion worth of U.S. imports that it plans to slap levies on should the U.S. go ahead with a tariff hike on Chinese imports.
The list, released by China’s Ministry of Finance on Friday, includes 5,207 kinds of American imports on which tariff rates in the range of 5% to 25% would be applied - if U.S. President Donald Trump actually implements his proposed 25% tariff (versus the initial 10% rate) on $200 billion of Chinese goods.
The U.S. proposed moving up the tariff rate apparently in hopes of getting more favorable trade terms for itself with China. But it seems the trade duel’s just got more aggressive with China hitting back with its ammo list.