In a recent move, China is set to impose additional tariffs on various products imported from the United States starting March 10, according to the Customs Tariff Commission of the State Council. 🛃
The new tariffs include a 15% increase on imported chicken, wheat, corn, and cotton. Additionally, sorghum, soybeans, pork, beef, aquatic products, fruits, vegetables, and dairy products will face a 10% tariff. 🐔🌾🥩
This decision follows the U.S. government's imposition of a 10% tariff on Chinese imports effective March 4. The commission stated that the unilateral tariffs by the U.S. undermine the multilateral trading system, increase the burden on American businesses and consumers, and weaken the foundation of China-U.S. economic and trade cooperation. 🌍💼
Furthermore, China has added 10 U.S. firms, including TCOM Limited Partnership, to its unreliable entity list. Starting Tuesday, these companies will be prohibited from engaging in import and export activities related to China and will be banned from making new investments within the country. 🚫🏢
The Ministry of Commerce highlighted that these measures aim to maintain national sovereignty, security, and development interests, in line with relevant laws and regulations. 📜🔒
Reference(s):
cgtn.com
