BEIJING: China on Tuesday (Mar 4) swiftly retaliated against fresh US tariffs, announcing 10 per cent to 15 per cent hikes to import levies covering a range of American agricultural and food products, and placing 25 US firms under export and investment restrictions.
The extra 10 per cent duty US President Donald Trump threatened China with last week entered into force at midnight local time on Mar 4, resulting in a cumulative 20 per cent tariff in response to what the White House considers Chinese inaction over drug flows. The tariff represents an additional hike to preexisting levies on thousands of Chinese goods.
The US has argued that China supplies chemicals used in fentanyl production. China has denied any wrongdoing.
Beijing will impose an additional 15 per cent tariff on US chicken, wheat, corn and cotton and an extra 10 per cent levy on US soybeans, sorghum, pork, beef, aquatic products, fruits and vegetables and dairy imports from Mar 10, the finance ministry announced in a statement.
