China has responded quickly to the new US tariffs by raising import duties on $21 billion worth of American agricultural and food products, Reuters reports.
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China Tariffs
Beijing also imposed export and investment restrictions on 25 US national security firms.
“Attempts to put excessive pressure on China are miscalculations and mistakes,” a Chinese Foreign Ministry spokesman told a news conference in Beijing, adding that China had never been intimidated or coerced.
The latest retaliatory measures come after an additional 10% tariff that US President Donald Trump had threatened on the world's second-largest economy took effect on March 4.
The US thus imposed a cumulative 20 percent tariff in response to what the White House sees as “China's inaction on drug flows.”
China has accused the White House of “blackmail” over tariff hikes, saying its anti-drug policies are among the world's toughest.
China responded by imposing an additional 15% tariff on American chicken, wheat, corn and cotton starting March 10.
He also imposed an additional 10% tax on imports of soybeans, sorghum, pork, beef, fruits, vegetables and dairy products from the United States.
According to Reuters calculations based on 2024 U.S. Census data, the additional tariffs would affect about 15% of $21 billion in U.S. exports to China.
Background
As the Ministry of Finance wrote, on March 4, Trump imposed duties on goods from Canada and Mexico and raised tariffs for China to 20%.
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