As US President Donald Trump prepares to impose an additional 10% tariff on Chinese goods starting Tuesday, China is gearing up to retaliate. According to China’s state-controlled Global Times, the country is planning countermeasures against the newly announced US tariffs, potentially escalating the trade war between the world’s top two economies.
China is reportedly targeting American agricultural exports, with plans to include both tariffs and a series of non-tariff measures. US agricultural and food products are expected to be among the key targets. The Global Times, quoting an anonymous source, indicated that China is looking into and planning responses to Trump’s threat of adding a 10% tariff on Chinese goods.
Trump’s announcement of an additional 10% duty on Chinese goods brings the total tariff to 20%. He accused Beijing of not doing enough to stop the influx of fentanyl into the United States. In response, China’s commerce ministry labeled the move as “blackmail”.
China is the largest market for US agricultural products, and this sector has often been used as a leverage point during trade tensions. Genevieve Donnellon-May, a researcher at the Oxford Global Society, told Reuters that despite a decline in imports since 2018, any tariff on products like soybeans and grains is likely to have a significant impact on US-China trade and on American exporters and farmers.
As the trade war intensifies, the global economic landscape faces increased uncertainty, with potential repercussions for financial markets and international relations.
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