China raises tariffs on B of US soybeans, other goods

42
China raises tariffs on B of US soybeans, other goods
In this Sept. 20, 2017, photo, visitors look at airplane component parts on display at Aviation Expo China in Beijing. China On Wednesday, April 4, 2018 vowed to take measures of the "same strength" in response to a proposed U.S. tariff hike on $50 billion worth of Chinese goods in a spiraling dispute over technology policy that has fueled fears it might set back a global economic recovery. The Commerce Ministry said it would immediately challenge the U.S. move in the World Trade Organization. (AP Photo/Andy Wong)

BEIJING (AP) — China on Wednesday issued a billion list of U.S. goods including soybeans and aircraft for a possible tariff hike in a spiraling technology dispute with U.S. President Donald Trump.

The tax agency said a date for imposing the 25 percent increase would be announced later, depending on whether Washington goes ahead with plans to raise duties on a similar amount of Chinese goods.

The list of 106 products included the biggest U.S. exports to China, reflecting Beijing’s intense sensitivity to the dispute over complaints it pressures foreign companies to hand over technology.

The increase mirrors the possible 25 percent tariffs announced Tuesday by the Trump administration on goods including aerospace, telecoms and machinery.

Companies and investors worry the conflict could dampen worldwide commerce and set back the global economic recovery.

The conflict is especially sensitive for Chinese leaders because it strikes at high-tech industries they see as China’s economic future.