China Pushes Back Against U.S. Tariffs

Dan Industry News Release, Trade

China immediately responded to the latest U.S. tariff threat by publishing a list of $60 billion in U.S. imports it will lay tariffs on. That’s dependent on whether or not the U.S. follows through on its latest trade threats.

chinaBloomberg says China will levy duties ranging from five percent up to 25 percent on more than 5,000 kinds of U.S. imports if America follows through on its threat of another $200 billion in tariffs.

Beijing will impose five percent tariffs on more than 600 types of U.S. goods, including planes and computers. A 10 percent tariff goes on almost 1,000 products, including textiles. A 20 percent tariff will apply to more than 1,000 items, including chemicals and paper. The one that hits agriculture hardest will be a proposed 25 percent duty on items like meat, wheat, and wine.

A Ministry of Commerce statement says, “The implementation date will be subject to U.S. actions, and China reserves the right to continue introducing other countermeasures.”

Source: National Association of Farm Broadcasting News Service.