China Imposes New Tariffs on U.S. Agricultural Products Amid Trade Tensions
China has implemented new tariffs on U.S. agricultural imports, imposing a 15% duty on chicken, wheat, corn, and cotton, and a 10% tariff on additional products like soybeans and dairy. Concurrently, fifteen U.S. companies were added to an export control list for national security reasons, further straining U.S.-China trade relations.
China has announced new tariffs on various agricultural products imported from the United States. These additional duties consist of 15% on chicken, wheat, corn, and cotton, along with a 10% increase for sorghum, soybeans, beef, aquatic products, fruits, vegetables, and dairy items, as reported by Xinhua News Agency.
In a related move, the Chinese government has added fifteen U.S. companies to an export control list aimed at safeguarding national security and interests. These entities, which the Chinese authorities deem threatening, prevent local vendors from selling dual-purpose goods to them. The companies listed include Leidos, Gibbs&Cox, IP Video Market Info, and several others.
The Ministry of Commerce has stated that the unilateral imposition of tariffs by the United States jeopardizes the multilateral trading system, adding to the burdens faced by American businesses and consumers. Furthermore, the statement emphasized that these tariffs undermine the foundation of economic and trade cooperation between China and the United States.
In summary, China’s latest tariffs on U.S. agricultural products represent a significant escalation in trade tensions between the two nations. The additional export controls targeting specific U.S. companies further complicate diplomatic relations. Both actions collectively highlight the challenges in maintaining a stable economic partnership amidst rising geopolitical concerns.
Original Source: news.az
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