China to slap tariffs on U.S. goods incuding pork, fruits and nuts

China is moving forward with its plan to counter President Donald Trump's new tariffs on steel and aluminum, levying duties that will take effect Monday on more than $3 billion in U.S. exports to the country. In a statement Sunday, the Chinese government said it would impose the retaliatory tariffs on 128 products, according to an informal translation. China will impose a 15 percent tariff increase on goods including American fruit and nuts and add a 25 percent tariff on pork, recycled aluminum and other goods, the government said. The move is expected to lead to escalating tensions between the two large trading nations, leading many to worry that American farmers will be casualties in a tit-for-tat trade war. The U.S. shipped more than $1 billion of pork products to China last year, making it the No. 3 destination for exports after Japan and Mexico. The U.S. was China’s top supplier of apples, cherries, walnuts and almonds...MORE