Payback! China imposes 25 per cent tariffs on 659 American goods after Trump announces US will tax Chinese goods at the same rate
China will impose additional 25 percent tariffs on 659 US goods worth $50 billion in response to the US' plan to levy tariffs on Chinese imports.
The Chinese commerce ministry announced tariffs on $34 billion of US goods including agricultural products like soybeans, which will take effect from July 6. Soybeans are China's biggest import from the United States by value.
The tariffs will also be applied to autos and aquatic products.
US President Donald Trump announced 25 percent tariffs on $50 billion of Chinese imports on Friday, in a move that looks set to ignite a trade war between the world's two largest economies.
Trump said the tariffs would be imposed on a list of strategically important imports from China. He also vowed further measures if Beijing struck back.
The list of 659 US goods to face tariffs in China was longer than a preliminary list of 106 goods published by the commerce ministry in April, although the value of products affected remained unchanged at $50 billion.
Aircraft, included in the earlier Chinese list, were not on the revised list.
The effective date of the tariffs on the remaining $16 billion of U.S. goods will be announced later, according to the commerce ministry.
Affected US products will include crude oil, natural gas, coal and some refined oil products.
'The U.S. has ignored China's resolute opposition and solemn representation, and has insisted on adopting behaviors that violate WTO rules,' China's commerce ministry said.
'This is a violation of the legitimate rights and interests that China is entitled to according to WTO rules, and is a threat to China's economic interest and security.'
loreng, phoenix, United States, about 8 hours ago
Prices will go up in both countries and I'm okay with that as long as it slows down our national debt to commies.
qahwagi, Madison, United States, about 9 hours ago
China's payback is going to affect whom? ----- It's going to affect US farmers and livestock producers. Fully one-quarter of US soy bean crops are (or shall I say *were*) sold to China. A huge amount of US pork is (was) also sold to China. tRump's policies are going to break a lot of his early supporters
georgea_9, Santa Clara, United States, about 9 hours ago
Do NOT consume American soybeans. Over 90% gown here is genetically modified.