China Imposes Retaliatory Tariffs on $3BN Worth of U.S Goods

China Imposes Retaliatory Tariffs on $3BN Worth of U.S Goods

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After promising retaliatory actions against Trump's steel/aluminium tariffs, Chinese news network Xinhua has announced that China has imposed tarriffs on 128 U.S products, effective Monday. 

 

The 128 products, which includes mostly food/beverages like pork and wine, will be given tariffs of 15-25%. China's Ministry of Finance stated the move was to, "safeguard Chinese interests using WTO rules". 

 

CNN Money outlined the specific products that would be taxed based on Department of Agriculture data, and overall a total of $3BN U.S imports to China would be affected. Most notably, China receives 40% of all U.S ginseng exports, 9% of all pork shipments, and 5% of all international wine sales annually.

 

Trump has also alluded to a new list of Chinese tariffs focused on technology totaling $50-$60BN, although nothing has been formally announced yet. A full breakdown of the items China has tariffed can be found here

 

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2 responses to “China Imposes Retaliatory Tariffs on $3BN Worth of U.S Goods”

  1. KristopherFernandez says:

    This China Imposes Retaliatory Tariffs on $3BN Worth of U.S Goods is a very informative post. I am doing my rushessay essay on this as well. Good to see this on your page. Good work!

  2. net worth says:

    Thank you for sharing the news. Being a consumer, I hate this tariff policy.
    idol net worth

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