Trade war: US levies tariffs worth $50 bn on Chinese goods; China hits back

The move is considered as retaliation to the United States for announcing 25 percent tariffs on some 1,300 Chinese products

China on Wednesday notified the World Trade Organisation (WTO) of imposing $611.5 million worth of retaliatory tariffs on $2.75 billion worth of US imports including pork, nuts and ethanol. 

The move is considered as retaliation to the United States for announcing 25 percent tariffs on some 1,300 industrial technology, transport and medical products to try to force changes in Beijing's intellectual property practices.

The US Trade Representative's office unveiled a list of mainly non-consumer products representing about $50 billion of annual imports that would nonetheless hit supply chains for many US manufacturers. The list ranges from chemicals to light-emitting diodes,