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<p>Balanced Reporting. Trusted Insights.</p>
Wednesday, April 02, 2025
China slaps new tariffs on a raft of U.S. agriculture and food exports following new duties. Canada implements the first step of its two-step retaliation plan, while Lutnick teases a potential deal with the U.S.' neighbors.
President Donald Trump on Thursday said his administration plans to impose a new 10% duty on Chinese imports next week, on top of the new 10% duty that went into effect earlier this month.
President Donald Trump told reporters on Wednesday that new tariffs on Mexico and Canada would go into effect April 2, almost a month later than anticipated, but White House officials later walked it back, insisting the March 4 date still holds.
China Wednesday officially rejected U.S. claims that China has failed to comply with a 2019 World Trade Organization ruling against China’s price supports for its wheat and rice farmers – subsidies that U.S. farmers say hurt international trade.
The U.S.-China trade war escalated again for the second time Friday after President Donald Trump declared the U.S. would increase rates for existing tariffs on $250 billion of Chinese goods as well as boost tariffs on $300 billion worth of imports that haven’t yet been levied.
China announced Friday it will increase tariffs on $75 billion worth of U.S. agricultural and other goods by 5-10% in retaliation for U.S. plans to hit about $300 billion worth of Chinese exports with new import taxes.
China is threatening to retaliate against the latest U.S. tariffs President Donald Trump threatened, according to a release from Xinhua News, a government-run media outlet.
China’s Finance Ministry announced today the country will raise tariff rates on $60 billion worth of U.S. products, an expected trade war escalation after the U.S. increased import taxes on Chinese goods Friday.
China today promised to strike back once again over a planned escalation of U.S. import taxes. The Chinese Finance Ministry announced it will increase tariffs on an additional $60 billion worth of U.S. products if the U.S. follows through with a plan to add tariffs to $200 billion of Chinese goods by September.
President Donald Trump announced Monday night that he is ordering that an additional $200 billion in tariffs be levied against Chinese imported goods, raising the stakes in the burgeoning trade war between the two countries.