BEIJING (dpa-AFX) - In a retaliatory measure on Monday, the Chinese government suspended tariff concessions on 128 products it imports from the United States.
The Ministry of Finance said the Customs Tariff Commission of the State Council has decided to impose a tariff of 15 percent on 120 items, including fruits and related products.
A tariff of 25 percent will be applied on eight items of imports including pork.
The measures primarily target the US agriculture industry, but soybeans, a key US export to the country, has ben exempted.
The Finance Ministry said the tariffs affecting about $3 billion worth of imports was to safeguard China's interests and balance losses caused by new US tariffs.
It also made it clear that the Chinese action comes in response to Washington's decision last month to impose a 25 percent tariff on steel and a 10 percent tariff on aluminum imported from China.
Additionally, the Trump administration is set to impose annual tariffs amounting to $60 billion on goods imported from China.
The development is expected to hurt US-China relations.
The US has a massive $500 billion trade deficit with China, which is its most important trading partner.
Copyright RTT News/dpa-AFX