{"id":57489,"date":"2018-03-23T11:39:43","date_gmt":"2018-03-23T06:39:43","guid":{"rendered":"https:\/\/tns.world\/?p=57489"},"modified":"2018-03-23T11:39:43","modified_gmt":"2018-03-23T06:39:43","slug":"china-unveils-list-of-potential-retaliatory-tariffs-on-us-goods","status":"publish","type":"post","link":"https:\/\/tns.world\/?p=57489","title":{"rendered":"China unveils list of potential retaliatory tariffs on US goods"},"content":{"rendered":"

Beijing March 23 (TNS):<\/strong> China released on Friday a list of potential tariffs on $3 billion worth of US goods, from pork to fruits and wine that it could impose in response to new US trade duties.<\/p>\n

The commerce ministry warned that a 15 percent tariff on 120 goods worth almost $1 billion — including fresh fruit, nuts, ginseng and wine — would be imposed if the United States fails to reach a negotiated agreement.<\/p>\n

In a second phase, a 25 percent duty would be imposed on a eight goods totalling nearly $2 billion, including pork and aluminium scrap, after “further evaluating the impact of the US measures on China,” it said in a statement.<\/p>\n

The ministry said the list was aimed at offsetting the losses incurred from US tariffs on steel and imports, which are due to take effect on Friday.<\/p>\n

But the statement also came hours after President Donald Trump announced tariffs on Chinese imports over the “theft” of intellectual property, fuelling fears of a looming trade war.<\/p>\n

“China and the United States as the world’s top two economies, cooperation is the only right choice for the two countries,” the commerce ministry statement said.<\/p>\n

China “urges the US side to resolve the concerns of the Chinese side as soon as possible” through dialogue and “avoid damage to the overall situation of Sino-US cooperation,” it said.<\/p>\n

The list noticeably does not include soybeans, which Chinese state-run newspaper the Global Times had suggested should be targeted by Beijing.<\/p>\n

It would be a major blow to US farmers, as a third of their soybean exports go to China, in a business worth $14 billion last year.<\/p>\n

And the political stakes are high: Trump defeated Hillary Clinton in the 10 top soybean-producing states in the 2016 election.<\/p>\n

The United States has decided to exempt the European Union and six other countries from the steel and aluminium tariffs.<\/p>\n

While China is the world’s largest steel producer, it accounts for less than one percent of US imports and sells only 10 percent of its wrought aluminium abroad. TNS\/Reuters<\/p>\n","protected":false},"excerpt":{"rendered":"

Beijing March 23 (TNS): China released on Friday a list of potential tariffs on $3 billion worth of US goods, from pork to fruits and wine that it could impose in response to new US trade duties. The commerce ministry warned that a 15 percent tariff on 120 goods worth almost $1 billion — including […]<\/p>\n","protected":false},"author":1,"featured_media":57490,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19,23],"tags":[729,932,589],"class_list":["post-57489","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-world","category-national","tag-business","tag-international","tag-national"],"_links":{"self":[{"href":"https:\/\/tns.world\/index.php?rest_route=\/wp\/v2\/posts\/57489","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tns.world\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tns.world\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tns.world\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/tns.world\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=57489"}],"version-history":[{"count":1,"href":"https:\/\/tns.world\/index.php?rest_route=\/wp\/v2\/posts\/57489\/revisions"}],"predecessor-version":[{"id":57491,"href":"https:\/\/tns.world\/index.php?rest_route=\/wp\/v2\/posts\/57489\/revisions\/57491"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tns.world\/index.php?rest_route=\/wp\/v2\/media\/57490"}],"wp:attachment":[{"href":"https:\/\/tns.world\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=57489"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tns.world\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=57489"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tns.world\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=57489"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}