China slaps extra tariffs of up to 15% on imports of major US farm exports and adds trade limits

China slaps extra tariffs of up to 15% on imports of major US farm exports and adds trade limits

China has responded to the U.S. tariff hikes with additional tariffs and trade restrictions. Key details of the new measures include:

Tariffs on U.S. Agricultural Products:

• 15% additional tariffs on U.S. chicken, pork, soybeans, beef, wheat, corn, and cotton.
• 10% additional tariffs on sorghum, soybeans, pork, beef, seafood, fruits, vegetables, and dairy products.
• Goods already in transit are exempt until April 12.

Suspension of U.S. Imports:

• U.S. lumber imports are suspended due to forest pests like bark beetles and longhorn beetles.
• Three U.S. companies lose soybean export qualifications due to contamination with ergot fungi and seed-coating agents.

Anti-Circumvention Investigation:

• Investigation into U.S. fiber optic products to determine potential circumvention of China’s anti-dumping measures.

Restrictions on U.S. Firms:

• 10 U.S. firms added to China’s unreliable entity list, blocking trade and investment.
• 15 U.S. firms placed on the export control list, citing threats to national security in sectors like aerospace and defense.​​​​​​​

Impact on Imports:

• In 2024, China imported $24.7 billion in U.S. farm products, making up 14% of total U.S. farm exports. China has diversified its sources, increasing soybean imports from Brazil and Argentina.