Breaking News

China Will Impose Tariffs on 128 US Goods
Download PDF
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...

Summary: The Chinese are enacting retaliatory tariffs against the United States. 

Effective Monday, Beijing will impose retaliatory tariffs on the US in response to President Donald Trump’s new tariffs on steel and aluminum from China. According to Politico, China’s new tariffs will affect more than $3 billion in US exports.

  
What
Where


In a statement released Sunday, the Chinese government said that the Chinese was issuing the tariffs on 128 American products such as American fruit, nuts, wine, and pork.

About one week ago, the Chinese Commerce announced it was considering placing tariffs on the US after Trump had imposed tariffs on China. According to Politico, “The move is expected to lead to escalating tensions between the two large trading nations, leading many to worry that American farmers will be casualties in a tit-for-tat trade war.”

The US is China’s top exporter of apples, cherries, walnuts, and almonds; and it is one of the country’s top shippers of pork. Last year, the US exported over $1 billion of pork products to China alone.

Get JD Journal in Your Mail

Subscribe to our FREE daily news alerts and get the latest updates on the most happening events in the legal, business, and celebrity world. You also get your daily dose of humor and entertainment!!




Late last month, the US imposed tariffs on Chinese steel and aluminum, and Beijing said on Sunday that it would enact retaliatory tariffs “in order to safeguard China’s interests and balance the losses.” The US responded to China’s statement, saying that it had enacted its tariffs because of the country’s unfair trade practices.

“China’s subsidisation and continued overcapacity is the root cause of the steel crises,” spokeswoman Lindsay Walters said to the BBC. “Instead of targeting fairly traded US exports, China needs to stop its unfair trading practices which are harming US national security and distorting global markets.”



Politico stated that we should expect more tariffs between the US-China.

“More tariffs between the two countries are possible in the near future. In March, Trump unveiled another set of tariffs, which specifically target some $60 billion in Chinese exports in response to what the White House has described as policies that force American tech companies to cough up intellectual property in order to access the Chinese market,” Politico said.

The economic war between US and China caused the US stock market to drop on Monday, according to the BBC who also spoke to the National Pork Producer Council.

“Any restriction on export markets is not a good development for US pork producers,” Jim Monroe, a spokesman for the National Pork Producers Council, said.

What do you think about China’s tariffs against the US? Let us know in the comments below.



 

Interesting Legal Sites You May Like


BCG FEATURED JOB

Locations:

Keyword:



Search Now

Senior Labor and Employment Attorney

USA-CA-Mountain View

Mountain View office of our client seeks senior labor and employment attorney with 4+ years of exper...

Apply Now

Mid-Level Corporate Associate

USA-CA-San Francisco

San Francisco office of our client seeks mid-level corporate associate with 3 years of experience. T...

Apply Now

Junior to Mid-Level Corporate Associate

USA-WA-Seattle

Seattle office of our client seeks junior to mid-level corporate associate with 2 years of experienc...

Apply Now

Litigation Labor and Employment Associate

USA-CA-Sacramento

Sacramento office of our client seeks labor associate with 2-4 years of employment litigation experi...

Apply Now

RELEVANT JOBS

Full-Time Associate Attorney (Work From Home - New Jersey)

USA-NJ-Sewell

Virtual “New Jersey” Law firm seeks a full-time Associate Attorney to join our growing p...

Apply now

Associate Attorney

USA-NY-New York City

MIDTOWN MANHATTAN BOUTIQUE FIRM SEEKS ASSOCIATE ATTORNEY FOR IMMEDIATE HIRE. Must bring book of b...

Apply now

Experienced Attorney

USA-NY-New York City

Small, dynamic, highly successful firm, with a focus on commercial and entertainment litigation, see...

Apply now

Attorney

USA-SC-Gaffney

Established small niche firm seeks attorney Guardian ad Litem licensed to practice law in the state ...

Apply now

Most Popular

SEARCH IN ARCHIVE

To Top