China will impose an additional tariff of 10% to 15% on some US imports from 10 March. The Chinese Finance Ministry has given this information in a statement. It has come after US President Donald Trump’s effective new 25% tariffs on imports from Mexico and Canada, as well as doubling the fee on Chinese goods to 20%. American products that will face 10% retaliation tariffs in China include soybean, tide, pork, beef, aquatic products, fruits, vegetables and dairy products.
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The Chinese Finance Ministry said that 15% tariffs will be imposed on chicken, wheat, maize and cotton. News agency Reuters reported that in addition, China also imposed export and investment ban on 25 US companies. Donald Trump doubled the new 25% duty on imports on Canada and Mexico as well as 20% of tariffs on Chinese goods from 10% to 20%. After this, Canada also announced tariffs on US goods worth $ 107 billion.
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Outgoing Canadian Prime Minister Justin Trudeau said that if the Donald Trump administration implements its plan, the county would impose 25 percent tariffs on US goods worth 30 billion Canadian dollars. Justin Trudeau said that Canada would also impose tariffs on the remaining US goods of $ 125 billion within 21 days. Mexico said that if the US moves towards heavy tax, it is ready with backup schemes. The country’s President Claudia Sheenbam said, “We have Plan B, C, D.”
