a champion of free trade. it said it plans to impose duties on three billion dollars worth of imports from the u.s. including pork apples wine and steel pipes. but it's also indicated that it might consider targeting major players such as boeing apple and intel. china is the world's largest producer of steel if exports to the u.s. are hit with tariffs it will likely seek to boost sales elsewhere including europe . it's also possible that the u.s. might threaten to impose tariffs on clothes and high tech goods from china even do so. if china wants to play hardball and launch a large scale retaliation it might consider slowing its purchases of u.s. treasuries it already holds more u.s. debt than anyone else. player is cecilia malmstrom the european union's trade