China targets $3 billion of US goods in tariff spat
China announced a $3 billion list of U.S. goods for possible retaliation in a tariff dispute with President Donald Trump and girded Friday for a bigger battle over technology policy as financial markets sank on fears of global disruption.
The Commerce Ministry said higher duties on pork, apples, steel pipe and other goods would offset Chinese losses due to Trump’s tariff hike on steel and aluminum imports. It urged Washington to negotiate a settlement but set no deadline.
Trump said Friday that he was not concerned that the tariffs would be a drag on the stock market. He added: “China is going to end up treating us fairly.”
In a separate and potentially bigger dispute, the ministry criticized Trump’s decision Thursday to approve a possible tariff hike on Chinese imports worth up to $60 billion over Beijing’s technology policy. It gave no indication of a possible response, but a foreign ministry spokeswoman said Beijing was “fully prepared to defend” its interests.