China planning US import tax

China plans tariffs on some US imports to offset loss on steel and aluminum products, the Ministry of Commerce claims on Friday.

According to the ministry's announcement, these proposed tariffs involve 128 products China imports from the United States, with a value of $3 billion.

Among the figure, 120 products worth a total of $977 million and including fresh fruits, nuts, wine and seamless steel pipes which will be charged with a 15 percent tariff, and an additional 25 percent tariff on eight other products with a worth of $1.992 billion, including pork and recycled aluminum products.

US President Trump's signed a memorandum on Thursday authorizing punitive annual tariffs of up to $60 billion on Chinese exports under a Section 301 case on Chinese intellectual property policies and practices.

The ministry added it would take legal action under the framework of the World Trade Organization to maintain the stability and authority of global trading rules. 

"China has urged the US to address its concerns as soon as possible, settle disputes through dialogue and consultation, and avoid damaging overall China-US cooperation," the ministry said.