Beijing has introduced levies on American goods in response to Washington’s placed on Chinese products.
Beijing has slapped tariffs of up to 15% on various food commodities imported from the US and expanded controls on doing business with American firms. The move comes in response to Washington’s latest tariff hikes on Chinese goods.
On Tuesday, the Chinese Commerce Ministry announced 15% levies on imports of chicken, wheat, corn and cotton from the US, as well as 10% tariffs on American sorghum, soybeans, pork, beef, aquatic products, fruits, vegetables, and dairy products. The measures come into effect on March 10, according to the ministry’s statement.
At the same time, the Chinese government placed 15 US companies under export and investment restrictions, citing national security concerns. Beijing has also initiated legal action against Washington with the World Trade Organization (WTO), claiming that US unilateral tariffs violate the organization’s rules and undermine the foundation of economic and trade cooperation.
Earlier this week, the US doubled tariffs on all Chinese imports from 10% to 20%, citing the country’s alleged role in the production of fentanyl, a deadly synthetic opioid.
On Tuesday, Chinese Foreign Ministry spokesman Lin Jian called the fentanyl issue “a flimsy excuse” to raise US tariffs on Chinese imports.
“The US, not anyone else, is responsible for the fentanyl crisis inside the US. In the spirit of humanity and goodwill towards the American people, we have taken robust steps to assist the US in dealing with the issue… Instead of recognizing our efforts, the US has sought to smear and shifted the blame to China, and is seeking to pressure and blackmail China with tariff hikes,” the spokesman said.
Washington’s action and Beijing’s response are seen by economists as another round in a large-scale trade war between the world’s two biggest economies, initiated by US President Donald Trump during his first presidential term. The cumulative 20% duty introduced this year comes atop tariffs of up to 25% imposed by his administration on some $370 billion worth of US imports from China in 2018 and 2019.
Image credit: Getty Images
