China responded to new tariffs from the United States and increased import duties by 10-15%, covering a number of American agricultural and food products.
This is reported by Reuters.
At the same time, Beijing imposed export and investment restrictions on 25 American companies, citing national security considerations.
Ten of these 25 American companies have come under fire from China for selling weapons to Taiwan, which the PRC considers its territory.
New US tariffs on Chinese goods, increased to 20%, signed by President Donald Trump, took effect on March 4. The reason for this decision in the States is that Beijing “has not taken adequate measures” to combat the flow of the drug fentanyl into the United States. China has accused the US of blackmailing with fentanyl and said that it has one of the toughest anti-drug policies in the world.
A 20% tariff will be applied to several major US consumer electronics products imported from China, including smartphones, laptops, game consoles, smartwatches, speakers, and more.
China is imposing increased tariffs of an additional 15% on American chicken, wheat, corn, and cotton, as well as an additional 10% levy on soybeans, sorghum, pork, beef, fruits and vegetables, and dairy products.
- Trump announced plans to impose tariffs on Canadian, Mexican, and Chinese goods on February 2. Allegedly because of illegal migration and drug trafficking that enter the United States through these countries. Canada and Mexico were threatened with 25% tariffs, and China with 10%. Later, Trump wanted to increase Chinese tariffs by another 10%.
- The tariffs against China went into effect on February 4. At the same time, Trump gave Mexico and Canada a one-month reprieve, until March 4, to try to resolve the situation.
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