China on Tuesday swiftly retaliated against fresh US tariffs, announcing a range of between 10 and 15 percent hikes to import levies covering a basket of American agricultural and food products, while placing 25 US firms under export and investment restrictions.
“An additional 15 percent tariffs will be imposed on chicken, wheat, corn and cotton,” the Finance Ministry said, adding “additional 10 percent tariffs will be imposed on sorghum, soybeans, pork, beef, aquatic products, fruits, vegetables and dairy products.”
“The US’s unilateral tariffs measures seriously violate World Trade Organisation rules and undermine the basis for economic and trade cooperation between China and the US,” the Commerce Ministry said in a separate statement.
“China will firmly safeguard its legitimate rights and interests,” the statement added.
US President Donald Trump’s new 25 percent tariffs on imports from Mexico and Canada took effect on Tuesday, along with a doubling of duties on Chinese goods to 20 percent, launching new trade conflicts with the top three US trading partners. (Reuters)
