China Retaliates on Tariffs

“China is moving forward with its plan to counter President Trump’s new tariffs on steel and aluminum, levying duties that will take effect Monday on more than $3 billion in U.S. exports to the country. In a statement Sunday, the Chinese government said it would impose the retaliatory tariffs on 128 products, according to an informal translation,” Politico reports.

“China will impose a 15 percent tariff increase on goods including American fruit and nuts and add a 25 percent tariff on pork, recycled aluminum and other goods, the government said. The move to impose the duties comes just over a week after the Chinese Commerce ministry had announced it was considering tariffs on the goods. Just over a week later, those tariffs are taking effect.”

Financial Times: Who will fare worse in a China-US trade war?