Beijing:
China has swiftly retaliated against fresh US tariffs announced by President Donald Trump, and announced 10 to 15 per cent hikes to import levies covering a range of American agricultural and food products. The move places twenty-five US firms under export and investment restrictions.
The move came as America doubled duties on Chinese goods to 20 per cent, along with imposing new 25 per cent tariffs on imports from Mexico and Canada, launching new trade conflicts with the top three US trading partners
“Beijing will impose an additional 15 per cent tariff on US chicken, wheat, corn and cotton and an extra 10 per cent levy on US soybeans, sorghum, pork, beef, aquatic products, fruits and vegetables and dairy imports from March 10,” the finance ministry announced in a statement.
In a separate statement, China’s commerce ministry said the unilateral tariff measures of the United States seriously violate World Trade Organization rules and undermine the basis for economic and trade cooperation between China and the US.
“China will firmly safeguard its legitimate rights and interests,” the statement added.
Trump Tariffs On China
The extra 10 per cent duty, which US President Donald Trump has threatened China with last week, entered into force at 0501 GMT on March 4, resulting in a cumulative 20 per cent tariff in response to what the White House considers Chinese inaction over drug flows.
The cumulative 20 per cent duty also comes on top of tariffs of up to 25 per cent imposed by Trump during his first term on some $370 billion worth of US imports. Some of these products saw American tariffs increase sharply under former president Joe Biden last year, including a doubling of duties on Chinese semiconductors to 50 per cent and a quadrupling of tariffs on Chinese electric vehicles to over 100 per cent.
The 20 per cent tariff will apply to several major US consumer electronics imports from China previously untouched by prior duties, including smartphones, laptops, videogame consoles, smartwatches, speakers and Bluetooth devices.
The US has argued that China supplies chemicals used in fentanyl production. China has denied any wrongdoing.
The article originally appeared on NDTV.
