Commercial war reloaded: China strikes with tariffs on US imports!

Commercial war reloaded: China strikes with tariffs on US imports!

In a drastic step, the Chinese government has announced that they can collect additional tariffs on numerous agricultural products from the USA from March 10. As the Beijing Ministry of Commerce announced, 15 percent of additional tariffs are due on chicken meat, wheat, corn and cotton. An additional inch of 10 percent applies to other products such as soybeans, pork and beef. This measure takes place in response to the recently arranged tuning increases by US President Donald Trump, who doubled the import duties to goods from China from 10 to 20 percent. The increase came into force at midnight and was justified in response to the continuing smuggling of the drug fentanyl produced in China in the USA, as

The trade conflict between the two largest economies in the world changes to a new round that is reminiscent of the 2018 escalations. Trump justifies his measures with the "unilateral" behavior of China, which in his opinion undermines the "multilateral system of world trade". China reacted to this by threatening to put other US companies on a list of unreliable entities, which could impose restrictions or even a ban on their business in China. In addition to the new tariffs on agricultural products, Beijing had already announced tariffs on coal and liquid natural gas from the United States, which further heated up the tensions between the two countries, such as vienna.at informed.

The US government had already introduced tariffs on all imports from China at the beginning of February February, which prompted Beijing to impose counter-tariffs of 15 percent on certain products. Both countries are once again on the threshold of a comprehensive trade war, as during Trump's first term. Mutual protection by tariffs not only affects China's export economy, but also threatens the competitiveness of Chinese goods on the US market and strengthens the uncertainties in global trade.