China Retaliates With Tariffs
China retaliated swiftly after the United States introduced new tariffs, targeting American agricultural and food exports worth about $21 billion. The measures were designed to hit a range of farm goods and food items, signaling a sharper trade confrontation between the two countries.
The new Chinese duties included a 15% tariff on chicken, wheat, corn and cotton. A separate 10% levy was placed on soybeans, sorghum, pork, beef, aquatic products, fruits and vegetables, and dairy imports, with the measures due to begin on March 10.
Key Events
- China announced retaliatory tariffs after new U.S. trade measures.
- The new levies covered roughly $21 billion in American agricultural and food exports.
- China set a 15% tariff on chicken, wheat, corn and cotton.
- China set a 10% tariff on soybeans, pork, beef, seafood, fruit, vegetables and dairy.
- The tariffs were scheduled to take effect on March 10.
China unveils new U.S. countermeasures
China announced a new set of retaliatory measures against the United States, signaling a broader and more sophisticated use of legal and regulatory tools. The steps came amid tensions over U.S. technology restrictions and ahead of an expected visit by Chinese President Xi Jinping to the United States next month.
The package included the first national security investigation under China’s newly revised Foreign Trade Law, along with tighter controls on exports tied to drones. Beijing also sanctioned seven American entities and suspended cooperation with the U.S. on inspections for goods destined for China.
Key Events
- China announced a new round of countermeasures against the United States.
- The package included the first national security investigation under China’s revised Foreign Trade Law.
- Beijing tightened scrutiny on drone-related exports.
- China imposed sanctions on seven American entities.
- China suspended cooperation with the United States on inspections of products destined for China.