US-China Trade War: China Slaps 10-15% Tariffs On US Goods

As announced by the Chinese Ministry, China will impose an additional tariff of 10-15% on certain US imports starting March 10. The tariff increase will apply to key American exports, including chicken, wheat, corn, and cotton. This decision will mark another escalation in the ongoing trade dispute between the world's two largest economies.

According to information, import duties on US-grown chicken, corn, cotton, and wheat will face an additional 15% tax, while sorghum, soybeans, pork, beef, seafood, fruit, vegetables, and dairy goods will see a 10% hike.

On Tuesday as well, China added 15 U.S. companies to its unreliable entities list, which could potentially bar them from engaging in China import duties or export activities and from making new investments in the country.

These increased duties occurred after US President Donald Trump's administration imposed a 10% increase in tariffs on Chinese goods on top of existing duties as well as a 25% duty on all imports from Canada and Mexico.

Retaliation Tariffs: Canada-Mexico

Due to the tariff war, North American country trade has also been impacted.

Canada, in response, announced tariffs on US goods worth $107 billion. Outgoing Prime Minister Justin Trudeau said that a 25% tariff on US items worth $30 billion Canadian dollars would take effect on Tuesday. Additional taxes on items worth 125 billion Canadian dollars will be implemented within 21 days.

Mexico has also warned the United States about potential retaliation. President Claudia Sheinbaum stated that the government had several backup plans in case the United States raised taxes. "We have a plan B, C, and D," she said to the media.

This is not all; tariff increases can have a significant impact on countries' economies, and the medical industry is only one of several sectors bracing for disruption.