Beijing, March 10 – China has announced new tariffs on a range of United States products and imposed bans on 10 US firms, escalating trade tensions between the world’s two largest economies.
Effective March 10, the Chinese mainland will implement additional tariffs on certain US imports, according to the Customs Tariff Commission of the State Council. A 15% tariff will be applied to imported chicken, wheat, corn, and cotton from the US.
Sorghum, soybeans, pork, beef, aquatic products, fruits, vegetables, and dairy products will face an additional 10% tariff. These measures come in response to the US imposing an extra 10% tariff on Chinese products, which took effect on March 4.
The commission stated that the US’s unilateral tariff actions undermine the multilateral trading system, increase burdens on American businesses and consumers, and erode the foundation of economic and trade cooperation between China and the US.
In addition to the tariffs, China has placed 10 US firms, including TCOM Limited Partnership, on its unreliable entity list. The Ministry of Commerce announced that these companies are now prohibited from engaging in import and export activities related to China and are banned from making new investments within the country.
The decision aims to maintain national sovereignty, security, and development interests and is in accordance with relevant laws and regulations, the ministry added.
The escalating trade measures signal a growing tension in China-US relations, with potential impacts on global markets and economies.
