In retaliation to the tariffs imposed by the US, China has decided to impose additional duties on agricultural products imported from the US. Specifically, China announced that it will impose additional tariffs of up to 15% on imports of key US farm products such as chicken, pork, soy and beef, and will expand controls on doing business with key US companies.
China’s Ministry of Commerce said in a statement that the US tariffs on Chinese products violate international trade rules and harm China’s economic interests. Therefore, China decided to retaliate by imposing additional tariffs on agricultural products imported from the US. Soybeans in particular are one of the largest US agricultural exports to China. China’s imposition of tariffs on this product means a serious economic blow for US farmers. The US Department of Agriculture has warned that this could have a negative impact on the American agricultural sector.
“I would like to emphasize again that the Chinese people have never feared evil, have never believed in ghosts, and have never been bullied,” Chinese Foreign Ministry spokesperson Lin Jian said, noting that the US is returning good with hostility by increasing tariffs. In response to China’s move, US President Donald Trump said that the US could increase tariffs on China. Trump called for a return to the negotiating table to resolve trade disputes with China.
https://apnews.com/article/china-us-tariffs-farm-soy-trump-7442b02ac829347f0d4fc6ad0955d368
