China’s Retaliation to U.S. Tariffs Could Boost Trade with Global South

A 2019 file image shows a worker loading imported soybeans in China's Jiangsu province. Photo: XU CONGJUN / ImagineChina via AFP

U.S. tariffs on imports from China, Mexico, and Canada went into effect right after midnight on Tuesday. Citing a lack of action on restricting precursor chemicals used to make fentanyl, the U.S. added 10% on top of an already-imposed 10% tariff on Chinese imports, while those from Mexico and Canada got hit with a 25% tariff each.

China retaliated almost immediately with a set of tariffs designed to inflict distress among Trump’s core supporters in U.S. farming states. 10%-15% tariffs were imposed on a range of U.S. agricultural products and 25 firms were put under export and investment restrictions. U.S. chicken, wheat, cotton, corn, soybeans, beef, and dairy were some of the targeted products.

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by CGSP Staff

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