China has recently announced that it will implement new tariffs on several key U.S. agricultural products, imposing rates of up to 15% on imports such as chicken, pork, soybeans, and beef. These tariffs are set to take effect on March 10 and come in response to President Donald Trump’s decision to raise tariffs on Chinese imports to 20%, which started this week.
The specific tariffs include an extra 15% on U.S. chicken, wheat, corn, and cotton, while other products like sorghum, soybeans, pork, beef, seafood, fruits, vegetables, and dairy will see a 10% increase.
Additionally, China expanded its “unreliable entity list,” which now includes ten more American companies, barring them from engaging in trade or making new investments in China. Some of these firms include TCOM Limited Partnership, Teledyne Brown Engineering, and Huntington Ingalls Industries. This follows the previous addition of two companies last month.
Furthermore, China has placed 15 U.S. entities, particularly in the aerospace and defense sectors, on its export control list, citing threats to its national security as the reason.
China has been a significant buyer of American farm products, although its purchases saw a decline during the trade tensions initiated by Trump’s administration. Nevertheless, exports rebounded in the following years. According to the U.S. Department of Agriculture, American farm exports to China were valued at $33.8 billion in fiscal 2023, recovering from $36.4 billion the previous year.
However, it’s important to note that China has increasingly turned to Brazil and Argentina for its soybean and other agricultural needs, diversifying its sources amid ongoing tensions. The Chinese Commerce Ministry’s tariffs cover a wide array of U.S. agricultural exports, affecting around two dozen items, including chicken feet and wings, with a total of 711 items facing additional tariffs of 10%.
