China Imposes Retaliatory Tariffs on US Imports: Latest Update

China Imposes Tariffs: In response to the tariffs imposed by the United States, China has announced fresh 10-%-15% duties on several US agricultural and food products, set to take effect from March 10.

Imports of US-grown chicken, wheat, corn and cotton will face an extra 15% tariff, it said. The tariff on sorghum, soybeans, pork, beef, seafoods, fruit, vegetables and dairy products will be increased by 10%.

Also Tuesday, China added 15 U.S. companies to its unreliable entities list, which could potentially bar them from engaging in China-related import or export activities and from making new investments in the country.

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The extra 10 per cent duty that Trump threatened China with came into effect on March 4, doubling the cumulative tariff to 20 per cent. The US doubled its tariffs over what it perceives as inaction against drug flows. It has accused China of supplying chemicals used in fentanyl production, while the latter has denied the claims.

In a separate statement, China's commerce ministry said the unilateral tariff measures of the United States seriously violate World Trade Organization rules and undermine the basis for economic and trade cooperation between China and the US.

"China will firmly safeguard its legitimate rights and interests," the statement added.

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As reported by Bloomberg, the Chinese Ministry of Commerce has also mentioned in their statement that it would put at least 10 American companies on an unreliable entity list, most of which are involved in defence work. It has also added 15 firms, including defence contractors General Dynamics Land Systems and Skydio Inc., to an export control list.

Senior executives of these companies will also be banned from entering China and work permits, and Chinese visitor and residency permissions also will be revoked, the Commerce Ministry said.

Response by Canada, Mexico

China's move follows a similar retaliatory action by Canada, who announced tariffs on US goods worth $107 billion (155 billion Canadian dollars) from Tuesday.

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