BEIJING (AP) — China today issued a $50 billion list of U.S. goods including soybeans and aircraft targeted for possible retaliation in an escalating technology dispute with Washington that companies worry could set back the global economic recovery.
The Chinese tax agency said the date the 25 percent tariff hike might take effect would be announced later depending on what U.S. President Donald Trump’s government does about plans to raise duties on a similar amount of Chinese goods. A Commerce Ministry statement said China was protecting its “legitimate rights and interests.”
Chinese authorities warned they would respond with the “same strength” after U.S. authorities issued a list of Chinese goods Tuesday targeted for 25 percent duties in response to complaints Beijing pressures foreign companies to hand over technology.
China’s 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 clash reflects the tension between President Donald Trump’s promises to narrow the multi-billion-dollar U.S. trade deficit with China and the ruling Communist Party’s ambitious development plans. Those include using access to China’s vast market as leverage to induce foreign automakers and other companies to help create or improve industry and technology.
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