China imposed tariffs on U.S. products to “balance the losses”: People’s Daily

Vastavam web: China imposed tariffs on 128 U.S. products ranging from wine to oranges in order to “balance the losses” caused by U.S. duties and to protect China’s national interests, according to a commentary on the front page of the official People’s Daily.Beijing on Monday slapped additional tariffs of up to 25 percent on about $3 billion worth of U.S. products in response to new U.S. duties on aluminium and steel imports.

The Chinese tariffs are widely regarded as modest in size. They are seen as a warning shot to the U.S. administration, which will this week unveil a list of Chinese high-tech imports targeted for U.S. duties.U.S. industry has expressed concerns that China could further retaliate with punitive levies on major products such as aircraft, soybeans and autos.Beijing has repeatedly said it does not fear a trade war with the United States, but it has also urged Washington to come to the table and resolve their trade differences.