China has vowed to respond to new US import tariffs set to take effect on March 4, escalating trade tensions between the world’s two largest economies.
The Chinese Commerce Ministry condemned the latest round of duties imposed by the Trump administration, calling them an attempt to “shift the blame” and “bully” Beijing over fentanyl-related issues.
The new 10% tariff, which brings cumulative duties on certain Chinese goods to 20%, was announced by US President Donald Trump last week.
The White House has accused China of failing to curb the supply of chemicals used in fentanyl production, a claim Beijing has repeatedly denied.
According to the state-run Global Times, China is preparing countermeasures targeting US agricultural and food products.
The average effective US tariff rate on Chinese imports is projected to rise to 33%, up from approximately 13% before President Donald Trump began his current term in January, according to estimates from Ting Lu, Chief China Economist at Nomura, CNBC reported.
Agricultural products, particularly soybeans, accounted for the largest share of US exports to China, representing 1.2% of total US goods exports, or $22.3 billion, in 2023, according to an analysis by Allianz Research.
Oil and gas followed, comprising 1% of exports at $19.3 billion, while pharmaceuticals ranked third at 0.8%, totaling $15.6 billion.
The report suggests that Beijing could impose both tariff and non-tariff restrictions in retaliation.
The publication, which is affiliated with the Communist Party’s People’s Daily, previously reported on China’s response to European Union tariffs on Chinese electric vehicles.
In an official statement, China’s Commerce Ministry criticized the US for violating World Trade Organization (WTO) rules and disrupting global trade.
“Such measures will not resolve US concerns but will harm China-US economic cooperation and international trade stability,” the ministry stated.
China has urged Washington to withdraw what it calls “unreasonable and groundless” tariff measures, warning that the escalation could have broader consequences for global trade relations.
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