China Retaliates with U.S. Trade Tariffs
CBJ — China raised import duties on a $3 billion list of U.S. pork, apples and other products as a retaliatory move for the U.S. imposing stiff tariffs on steel and aluminum.
The scope of both moves will likely have limited effects, however, the concern is that this is just the first shot across the bow of what could quickly become an escalated, damaging trade war.
The Chinese tariffs will hit American farm states, many of which voted for Trump in 2016.
Beijing is imposing a 25% tariff on U.S. pork and aluminum scrap and 15% on sparkling wine, steel pipe used by oil and gas companies, and an array of fruits and nuts including apples, walnuts and grapes.
American farm exports to China in 2017 totalled nearly $20 billion, including $1.1 billion of pork products.