CHINA TO IMPOSE TARIFFS OF 10%-15% ON VARIOUS US PRODUCTS – 20%-15% hikes to import levies covering a range of American products
China has swiftly retaliated against fresh U.S. tariffs, announcing 10%-15% hikes to import levies covering a range of American agricultural and food products, moving the world’s top two economies a step closer toward an all-out trade war.
Beijing also placed twenty-five U.S. firms under export and investment restrictions on national security grounds. Still, it refrained from punishing any household names, as it did when it retaliated against the Trump administration’s February 4 tariffs.
Ten of these 25 U.S. firms were targeted by China for selling arms to Taiwan, which China claims as its territory.
China’s latest retaliatory tariffs came as the extra 10% duty U.S. President Donald Trump threatened China with last week entered into force at 0501 GMT on March 4, resulting in a cumulative 20% tariff in response to what the White House considers Chinese inaction over drug flows.
