China announces plans for reciprocal tariffs on $3 billion of imports from the U.S…Exemptions announced

It’s on!

America ships a LOT of stuff to China….

A reciprocal response is gonna hurt America manufactures shipping to China’s HUGE population of consumers….

The stock market took a huge drop-off of 740 pts  today…..

Does Donald Trump know what he doing?

The Chinese have aslo asked for trade talks ….

China said it doesn’t fear a trade war with the U.S. and announced plans for reciprocal tariffs on $3 billion of imports from the U.S. in the first response to President Donald Trump’s ordering of levies on Chinese metal exports.

China plans tariffs on imports of U.S. pork imports, recycled aluminum, steel pipes, fruit and wine, according to a Commerce Ministry statement on Friday. China will also pursue legal action against the U.S. at the World Trade Organization in response to the U.S. planned tariffs on steel and aluminum imports, the statement said, and called for dialog to resolve the dispute.

“The U.S. declared a trade war, but China is acting quite restrained. The list that China has announced appears to be a retaliation, but still it is very measured,” said Li Yong, senior fellow of China Association of International Trade. “The move sends a message that China is able to fight back, but we still want a trade peace instead of a trade war.”….

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The Chinese measures include a 25 percent tariff on U.S. pork imports and 15 percent tariffs on steel pipes, fruit and wine, according to the report.

The country is planning on taking legal action against the U.S. through the World Trade Organization, Bloomberg reported.

Chinese officials in a statement called on the U.S. to resolve the issues on trade through talks….

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Note….

His staff and lawmakers got him to use some common sense in who he fights with, eh?