Beijing has announced fresh tariffs ranging from 10% to 15% on specific US imports, effective from March 10, as part of its response to escalating trade disputes with Washington. The decision was confirmed in a statement released by China’s Ministry of Finance.
Among the American goods subject to the 10% tariffs are soybeans, sorghum, pork, beef, aquatic products, fruits, vegetables, and dairy items. Meanwhile, a 15% tariff will be imposed on chicken, wheat, corn, and cotton. Additionally, China has placed export and investment restrictions on 25 US firms, according to a report by Reuters.
This move follows the US government’s decision to double tariffs on Chinese goods from 10% to 20% and introduce a new 25% duty on imports from Mexico and Canada under the administration of President Donald Trump.
Canada has also retaliated by imposing tariffs on American goods worth $107 billion. Outgoing Canadian Prime Minister Justin Trudeau stated that a 25% tariff will be levied on US goods valued at 30 billion Canadian dollars if the US proceeds with its plans. He further mentioned that Canada would impose additional tariffs on the remaining US goods worth 125 billion Canadian dollars within 21 days.
Meanwhile, Mexico has indicated that it is prepared to counteract the US tariffs. President Claudia Sheinbaum stated, “We have a plan B, C, D,” signaling Mexico’s readiness to respond if the US implements the tax measures.
