China targets US ag products with tariffs
Wheat, corn, sorghum, soybeans and beef subject to new tariffs
China hit back at the U.S. with a slate of retaliatory measures in response to the Trump administration’s latest tariff increase, escalating a trade war between the world’s two largest economies. The coordinated action across government bodies—including a series of new tariffs on American products as well as controls on U.S. companies—was announced just as the White House’s additional 10% levy on all Chinese products came into effect. China’s finance ministry said the country is imposing an additional 15% tariff on U.S. chicken, wheat, corn and cotton products, and an additional 10% tariff on sorghum, soybeans, pork, beef, seafood, fruits, vegetables and dairy products. The new tariffs from China are set to go into effect on March 10.
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