tariffs

China, U.S. Trade War Deepens with More Tariffs

Dan Industry News Release, Trade

The U.S. and China began rolling out more tariffs against each other this week as part of the tit-for-tat trade war between the two nations.

china trade war tariffsThe U.S. will collect an additional 25 percent in duties on Chinese imports ranging from motorcycles to steam turbines and railway cars, and the Chinese retaliation will see a similarly sized tax on items including coal, medical instruments, waste products, and cars and buses, according to Bloomberg. The growing lists of tariffs continues to propel the U.S. and China further into a massive trade war, which is already seen as a hindrance to U.S. agriculture.

A meeting this week between officials from China and the U.S. does show signs of further discussions on the horizon. Still, Moody’s Investors Service expects tensions between the U.S. and China to worsen this year, with most of the impact of trade restrictions to be felt in 2019.

Source: National Association of Farm Broadcasting News Service.