China has announced additional tariffs of 10-15 per cent on US imports. This comes after Canada also announced reciprocal tariffs of 25 per cent on American goods following Trump's tariffs of 25 per cent on both Canada and Mexico, and additional 10 per cent duties on Canadian energy products. US had doubled the duties on Chinese goods to 20 per cent.
According to a statement by the Chinese finance ministry, the additional tariffs would be implemented from March 10. China has also placed 25 US firms under export and investment restrictions.
Beijing will impose an extra 15 per cent tariff on US chicken, wheat, corn, and cotton and 10 per cent tariff on US soybeans, sorghum, pork, beef, aquatic products, fruits, vegetables and dairy imports from March 10.
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.
"The US's unilateral tariffs measures 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," China's commerce ministry said in a separate statement.