China warned the United States on Friday that it was "not afraid of a trade war" as it threatened tariffs on $3 billion worth of U.S. goods in retaliation over the USA measures.
Business Roundtable said unilaterally imposing tariffs or other restrictions without a long-term strategy to bring about reforms in China will only raise prices in America, make American companies and products less competitive, and harm United States workers and consumers.
Wine imported from the U.S.is displayed at a supermarket in Beijing in 2011.
The Commerce Ministry said higher duties on pork, apples, steel pipe and other goods would offset Chinese losses caused by Trump's tariff increases on steel and aluminum imports.
China's "unfair" trade practices has resulted in a goods trade deficit of United States dollars 370 billion, the official said.
The ambassador said that there is great potential for China-U.S. cooperation, "but the key is that both sides have to take a cooperative and constructive approach; a confrontational one will not help anybody".
Later State Department Spokesperson Heather Nauert said Trump has been very clear from the first day on the campaign trail, longstanding concerns that he has and administration-wide people have, with China's "unfair" trade practices.
"We're doing something that will be the start of making trade with China more fair", Trump said.
The ministry announced the measures in reaction to tariffs the USA had placed on steel and aluminum imports earlier in March.
Despite a surplus with the United States, China has large deficits with other countries at the same time, which is a good illustration of the nature of the global supply chain, Cui said.
Altogether, the US trade representative estimates that these policies cost USA businesses around $50 billion a year. However, the two countries say they are in talks. -China Business Council, which represents American companies that do business with China.
Low-priced manufacturing in mainland China has enabled US technology brands to take the global market by storm and rake in massive profits, said an executive at a Chinese unit of Hon Hai, also known as Foxconn.
Washington doesn't believe it needs to give Chinese leaders another list of requests because they already know what the United States wants, said a senior USA official, who briefed reporters on condition he not be identified further.
The U.S. steel and aluminum tariffs also have irked Japan, America's closest ally in Asia.
That's why the administration initially announced that its steel and aluminum tariffs would apply worldwide.
Beijing reported a trade surplus of $275.8 billion with the United States previous year, or two-thirds of its global total.
"People have to be careful when they take actions, they may hurt everybody, including themselves", he also said.
USA apple growers just got their foot in the door in China in 2015, and the country is now their 10th-largest market, with demand growing. "We can't let that happen", he said. However, officials have promised to continue to open Chinese markets to foreign companies.