China is planning to slap $3 billion in reciprocal tariffs on U.S. products, according to multiple reports late Thursday. The move comes after President Donald Trump announced Thursday at least $50 billion in tariffs on imports from China. Bloomberg News reported China plans 15% tariffs on U.S. steel, fruit, wine and other products, and 25% tariffs on pork and aluminum. Reuters reported that 128 U.S. products would be subject to the tariffs, and that the measures will take effect if a trade agreement cannot be reached with the U.S.