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CHINA ANNOUNCES ADDITIONAL TARIFFS ON U.S. IMPORTS, EXPANDS LIST OF AG PRODUCTS
Sep. 20, 2018
Agri-Pulse reports:
President Trump's trade war with China is ratcheting up yet another notch: China says it will follow through with new and steeper tariffs on $60 billion worth of U.S. products to retaliate against U.S. tariffs that were unveiled Monday.
China's state-run news agency Xinhua said the retaliation would begin Sept. 24, the same day as the new U.S. tariffs on $200 billion worth of Chinese goods. China did not say which products from the U.S. that it will target, but the country did release a preliminary list on Aug. 3.
The list includes such U.S. ag products as soybean oil, corn oil, hops, formula milk powder, whey protein isolates, canned vegetables, honey, lamb, sweetened almonds, maple syrup, peas, kidney beans, sweet potatoes and frozen strawberries.
Trump threatened to hit back against China yet again if it follows through with the retaliation.
"If there's a retaliation against our farmers and our industrial workers, our ranchers, if any of that goes on, we're going to kick in another $257 billion," he said. "And that will be also at 25 percent. We don't want to do it, but we probably - we'll have no choice."
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