China: China Responds to U.S. Section 301 Trade Action Announcement
On April 4, 2018, the People’s Republic of China’s Ministry of Commerce (MOFCOM) and Ministry of Finance (MOF) separately announced a proposal to levy retaliatory tariffs of 25 percent impacting approximately $16.5 billion in Chinese imports of agricultural and food products from the United States. The announcement is in response to the recent U.S. announcement of proposed U.S. tariffs on Chinese imports as a result of the U.S. 301 Investigation into the forced transfer of U.S. technology and intellectual property. China’s proposed tariff increases in response to the U.S. 301 Trade Action target U.S. soybeans, corn and corn products, wheat, sorghum, cotton, beef and beef products, cranberries, orange juice and tobacco and tobacco products. The announcement did not include a comment period and does not indicate a date of implementation.