China has announced a fresh round of tariffs on U.S. imports, retaliating against President Donald Trump’s decision to raise tariffs on all Chinese goods to 20%. The move marks a sharp escalation in trade tensions between the world’s two largest economies.
China’s Finance Ministry outlined the new tariffs, which will take effect March 10:
\ud83d\udd3a 15% tariffs on U.S. chicken, wheat, corn, and cotton
\ud83d\udd3a 10% tariffs on soybeans, sorghum, pork, beef, fruits, vegetables, aquatic products, and dairy
In addition, China’s Commerce Ministry has:
\ud83d\udd39 Added 15 U.S. entities to an export control list
\ud83d\udd39 Blacklisted 10 U.S. firms as "unreliable entities"
One of the most notable companies affected is Illumina Inc. (NASDAQ: ILMN), which is now banned from exporting gene sequencing machines to China.
Trump’s 20% tariff increase, which took effect at midnight ET on Tuesday, is aimed at pressuring China to curb the flow of fentanyl into the U.S..
Beyond China, Trump has also:
\ud83d\udd39 Imposed 25% tariffs on Canada and Mexico, citing similar concerns
\ud83d\udd39 Urged both countries to tighten their border controls
The latest tariffs come just ahead of a key government meeting in China, where Beijing is expected to introduce new stimulus measures to counteract the economic impact.
The tit-for-tat tariffs echo the 2018-2019 U.S.-China trade war, which ended with the Phase One trade deal in 2019. However, the current escalation suggests a return to heightened tensions.
While both Washington and Beijing have recently expressed interest in a new trade agreement, these latest measures indicate that a resolution may be far from imminent.
Investors tracking the impact of trade policies on global markets can leverage the Economic Calendar API for real-time economic data.
