mzeiya
Elder Lister
China and Canada moved swiftly on Tuesday to retaliate against newly imposed U.S. tariffs, announcing their own levies on U.S. goods that could further disrupt the United States’ trade with its top three trading partners.
A 25% U.S. tariff on almost all goods imported from Canada and Mexico took effect Tuesday just after midnight, along with an additional 10% tariff on goods from China. The three countries together accounted for more than 40% of total U.S. imports last year and are also the top three U.S. export markets.
China will impose additional tariffs of up to 15% on some U.S. goods, its government said, while Canada vowed tariffs of up to 25%. Mexican President Claudia Sheinbaum is expected to announce her response at a news conference in Mexico City on Tuesday morning, the country’s economy ministry said.
The new Chinese levies, which take effect on March 10, include a 15% tariff on chicken, wheat, corn and cotton and a 10% tariff on sorghum, soybeans, pork, beef, fruits, vegetables, and dairy and fish products. Chinese state media had reported earlier that U.S. agricultural products would be targeted.
China says the U.S. tariffs undermine cooperation between the world’s two largest economies and they hurt American businesses and consumers, as well as international trade.
“The Chinese people have never believed in coercion or intimidation, nor do we succumb to bullying and hegemonic tactics,” Chinese Foreign Ministry spokesperson Lin Jian said at a regular briefing in Beijing on Tuesday.
“Pressure, threats and coercion are not the right way to engage with China. If the U.S. attempts to exert extreme pressure on China, it is simply targeting the wrong country and miscalculating its moves.”Lin also said China had “taken strong measures” to help stem the international flow of fentanyl, which Trump has cited as justification for the tariffs on China, Canada and Mexico, and that the U.S. was using fentanyl as an excuse to wage a trade war.
In addition to the new tariffs, China added 10 U.S. companies to its “unreliable entity” list and 15 to its export control list, mostly defense and intelligence firms with little exposure to the Chinese economy.
Beijing is also filing a lawsuit with the World Trade Organization over the new 10% tariff, as it did in response to a previous 10% tariff that President Donald Trump imposed on Chinese goods starting Feb. 4.
The combined 20% U.S. tariff on Chinese goods comes on top of tariffs Trump imposed during his first term that were maintained and in some cases sharply increased by former President Joe Biden.
