After the United States announced tariffs on products imported from China, among other nations, the Asian country retaliated by raising import duties on U.S. agricultural and food products by 10% to 15%, according to Reuters.
Specifically, Beijing will impose an additional 15% tariff on imports of chicken, wheat, corn, and cotton, and an extra 10% on soybeans, sorghum, beef, pork, seafood, fruits, vegetables, and dairy products from the United States, starting March 10, according to a statement from the Ministry of Finance.
China also placed 25 U.S. companies under export and investment restrictions for national security reasons, the news agency said.
In a press conference, China’s Ministry of Foreign Affairs stated that “trying to exert extreme pressure on China is a miscalculation and a mistake (overall).”
The countermeasures announced by China were generally considered “cautious” by international trade analysts.
The announcements had little impact on China’s main indicators yesterday; in fact, stock markets managed a slight increase, while the yuan remained stable.
