Smoky Mountain Journal -China Raises Tariffs On $3B List Of U.S. Pork, Apples, Other Products




The Great Smoky Mountain Journal Source: Tuesday, January 01, 2019 02:44 PM

China Raises Tariffs On $3B List Of U.S. Pork, Apples, Other Products
BEIJING (AP) — China has raised import duties on a $3 billion list of U.S. pork, apples and other products in an escalating dispute with Washington over trade and industrial policy. The government of President Xi Jinping said Monday it was responding to a U.S. tariff hike on steel and aluminum. But that is just one facet of sprawling tensions with Washington, Europe and Japan over a state-led economic model they complain hampers market access, protects Chinese companies and subsidizes exports in violation of Beijing's free-trade commitments. Already, companies are looking ahead to a bigger fight over U.S. President Donald Trump's approval of higher duties on up to $50 billion of Chinese goods in response to complaints that Beijing steals or pressures foreign companies to hand over technology.