A quarter of Boeing aircraft are sold to China.
Given the situation, the Korean government was well advised to announce plans to weather trade tensions between the U.S. and China. On April 2, China retaliated with its own tariffs on 128 US products, including ethanol, pork, steel pipes and wine, to name a few.
The two countries have been building towards a trade war since President Trump moved to impose tariffs on USA imports of steel and aluminium products, exempting the European Union and many other nations - at least for now.
USA and Chinese officials have been expressing optimism that a full-blown trade war can be averted through negotiations.
The US Trade Representative's Office said the tariffs were being imposed "in response to China's policies that coerce American companies into transferring their technology and intellectual property to domestic Chinese enterprises".
The Chinese embassy in Washington did not immediately issue a response to the proposed new round of tariffs, CNN reported.
"US oil inventories remain a volatile gauge, but they still provide a good litmus test for the short-term", said Stephen Innes, head of trading for the Asia-Pacific region at futures brokerage OANDA in Singapore. China shot back with a list of similar duties on American imports including soybeans, planes, cars, beef and chemicals.
US President Donald Trump has ratcheted up the trade war rhetoric with China, saying he was considering an additional $100 billion in tariffs on the country, the media reported.
US stock futures dropped on Trump's latest trade directive to the US Trade Representative.
Pakistani Prime Minister Shahid Khaqan Abbasi arrives in Kabul
It was during his meeting with Janjua that Ghani invited Abbasi to Kabul to "initiate a state-to-state comprehensive dialogue". Abbasi recently joined the Afghan president in Herat to inaugurate the TAPI gas pipeline project.
Instead, the Chinese retaliation list, published swiftly on Wednesday afternoon before a two-day Chinese public holiday for Tomb Sweeping, has returned fire on Trump's tough negotiating tactics.
In a statement, Boeing said proposed tariffs from the us and China could harm the global aerospace industry. "No tariffs will go into effect until the respective process is complete", Lighthizer said.
"This latest intimidation reflects the deep arrogance of some American elites in their attitude toward China", the state-run Global Times said in an editorial. They don't even want to take it. -China trade battles playing out.
"We can not dictate a change in trade deficit or surplus. And the USA administration is showing their willingness to bear short-term costs in the hopes of bringing China to the negotiating table to liberalize their markets".
Tensions have been rising between the world's two largest economies since August, when the United States president initiated an investigation into anti-competitive trade practices by China and alleged theft of United States intellectual property.
The US president has said he will impose steep tariffs on steel and aluminum imports, which would hit China. As the Trade Ministry aptly suggested, one of the more urgent tasks is accelerating efforts to expand export destinations.
"Essentially President Trump is playing hard ball to force China to the negotiating table at the WTO to work out a new agreement with the United States on technology licensing requirements", said Rajiv Biswas, Asia-Pacific chief economist at IHS Markit Ltd.in Singapore.
It is unclear if the additional tariff will impact consumption demands from China, which is the third largest export market for almonds, accounting for almost 151 million pounds in 2016/17 with a value of approximately $500 million.