Chinese government contemplating over retaliating US imports
Following the US plan to bring an import cap on Chinese textiles, Chinese trade minister made an announcement today that the country may introduce measures against US imports in case the US does not agree with the WTO final ruling to remove the steel tariffs. The exact coverage of US products to be included in the retaliation is not yet clarified.
Chinese Government is preparing to report its complaint to the US officials shortly, regarding this issue. There is also a speculation that the US is considering to bring tariffs for imports of furniture from
China as well. It is assumed that the main concern of the US is the growing trade deficit with
China, which was at $103 billion in 2002.