China Retaliates Against US with New Tariffs on American Products
The Chinese government has swiftly responded to the Trump administration's move by announcing new tariffs on several American products, including chicken, wheat, corn, and cotton, in retaliation to the imposition of additional US tariffs on Chinese goods. The decree, signed by US President Donald Trump, which raises tariffs on all Chinese products to 20%, came into effect on Tuesday. In response, China has announced additional tariffs of 15% on the mentioned American products, which will be applied starting from March 10.
Other American products, including sorghum, soybeans, pork, beef, as well as seafood, fruits, vegetables, and dairy products, will also be subject to an additional 10% tax. According to the Chinese Ministry of Finance, Washington's unilateral decision "undermines the multilateral trading system" and "weakens the foundations of economic and trade cooperation between China and the United States."
In addition to these new tariffs, Beijing has added 15 American entities to its export control list, accusing them of harming national security and Chinese interests, as stated in a statement from the Chinese Ministry of Commerce. The measures will come into effect after March 10, 2025.
Recall that Donald Trump imposed 25% tariffs on products from Canada and Mexico starting from March 4, 2025, triggering retaliatory measures from Ottawa. These measures, aimed at rebalancing trade and combating fentanyl trafficking, have raised concerns about the economic impact, including higher prices for American consumers and a potential decline in growth. Trade tensions continue, with China responding with additional tariffs on American agricultural products, while Canada and Mexico implement countermeasures.
