China decided to slap new tariffs on 106 products worth $50 billion from the United States on Wednesday, including a 25% tariff on soybeans in tit-for-tat measures after Washington announced additional tariffs against a host of Chinese products as penalty for alleged intellectual property theft on part of Beijing. Other US imports that will be targeted by the tariffs are wheat, tobacco, cotton and corn products.
The administration of President Donald Trump published a list of some 1,300 Chinese products that would be targeted under the new tariffs, including transport and medical equipment, technology, and educational material.
On Sunday, China said it is imposing a 15% tariff on 120 imported products such as fruits originating in the United States, while a 25% tariff boost will include eight products such as pork coming from the US in response to the steel and aluminum duties proposed by President Trump.
