China imposed 15-to-25% tariffs on 128 US imports on Monday, April 2.
The products include pork, wine, nuts, fresh and dried fruit, and ginseng. Thus far- major technology giants producing in China, such as Apple, have been except.
Beijing said the move was designed to “balance” losses caused by new US tariffs introduced by President Donald Trump on 22 March. The US President campaigned on a promise to reduce the US trade deficit.
Mr. Trump Twitted that “trade wars are good” and would be “easy” for the US to win. Washington has for years complained about Chinese theft of intellectual property. China’s state-led economy, according to Washington, has a long-term technology transfer policy for foreign investors.
China has a trade surplus with most states around the world.