China to impose extra tariffs of 10%-15% on various US products

(Reuters) - China will impose additional tariffs of 10%-15% on certain U.S. imports from March 10, according to a statement from the Chinese finance ministry on Tuesday.

"From the supply and demand perspective, the short-term impact on the domestic market won't be significant. The reasons are: 1. It is currently the South American soybean season, while the U.S. soybean is in the off-season; 2. The amount of U.S. soybeans purchased by China has decreased, and the proportion of U.S. soybeans in China's soybean imports has dropped to 17%.

"However, the large number of products involved this time will add further difficulties to China's aquatic product exports to the U.S., especially tilapia exports. With the additional 10% tariff, the tariff on tilapia exports to the U.S. will reach 45%, making it basically impossible to export to the U.S."

Complete Article

MSN

 

[Tall Timbers]

. With the additional 10% tariff, the tariff on tilapia exports to the U.S. will reach 45%, making it basically impossible to export to the U.S."

Years ago I occasionally served tilapia for dinner. After reading about how the farms operate I terminated our tilapia consumption.

The bigger purpose of tariffs is to encourage manufacturers/producers to do more if there manufacturing/producing in th USA. Our country is riddled with small communities that aren't much better than ghost towns due to manufacturing leaving the USA for other countries.

The cause was a punitive tax level on corporations. So the govmint itself was/is responsible for the departure of manufacturing/producing. Those taxes were lowered during Trump's first term, but they were still to high, thanks to a deep state controlled Congress.

 

[1LoverofGod]

China has announced additional tariffs on U.S. agricultural products and food items in response to President Donald Trump's decision to effectively double tariffs on Chinese imports.

A spokesperson for the Chinese Embassy in Washington, D.C., told Newsweek the fentanyl issue is a "flimsy excuse" to raise U.S. tariffs on Chinese imports. The spokesperson added China would be willing to fight the U.S. in a "tariff war, a trade war or any other type of war" if the tensions escalate further.

China's Tariff List​

15 Percent Tariffs:

• Chicken
• Wheat
• Corn
• Cotton

10 Percent Tariffs:

• Sorghum
• Soybeans
• Pork
• Beef
• Aquatic products (seafood)
• Fruits
• Vegetables
• Dairy products

"Let me reiterate that intimidation does not scare us. Bullying does not work on us. Pressuring, coercion or threats are not the right way of dealing with China. Anyone using maximum pressure on China is picking the wrong guy and miscalculating. If the U.S. has other agenda in mind and if war is what the U.S. wants, be it a tariff war, a trade war or any other type of war, we're ready to fight till the end. We urge the U.S. to stop being domineering and return to the right track of dialogue and cooperation at an early date."

Complete Article

China strikes back after US tariffs imposed: List of products targeted

The White House announced on Monday that Chinese goods would be subject to an additional 10 percent tariff.

www.newsweek.com

 

[Tall Timbers]

The less trade we have with the current country of China, the better, IMO.

 

[1LoverofGod]

The less trade we have with the current country of China, the better, IMO.

We better get on it soon because the majority of our prescription drugs comes from China.

 

[mattfivefour]

This is somewhat amusing in the sense that China has always had tariffs on some American goods, some apparently as high as 40%. As President Trump announced tonight, in addition to punitive tariffs against Mexico Canada and China, he will place countervailing tariffs on every country that has tariffs against American goods. Reciprocity is now the name of the game. I'm sure there will be some short-term pain for Americans; but the payoff will be long-term gain. Already made your companies around the world faced with American tariffs are announcing that they will be building plants in America to avoid those tariffs. One example the president mentioned tonight was Honda has just announced it will begin building one of the world's largest auto manufacturing plants in Indiana. Without the certainty of tariffs, that would never have happened.