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The latest tariff retaliatory measures announced by China today will result in approximately $60 billion in exports to the United States, including hundreds of agricultural products, mining and manufactured products, which threaten the work and profits of companies across the United States.
Before the start of the trade war, China bought about 17% of U.S. agricultural exports and was a major market for other commodities, from Maine lobsters to Boeing airplanes. Since 2016, it has been the largest market for Apple’s iPhone. However, due to higher tariffs, China has stopped buying soybeans and lobster, and Apple warned that it will miss the expected sales data for the Christmas holiday due to trade tensions.
In addition to the 25% tariffs below, Beijing also added 20% tariffs on 1,078 US products, 10% tariffs on 974 US products, and 5% tariffs on 595 US products (all links are in Chinese).
This list is translated from a press release of the Ministry of Finance of China using Google Translate, and may be inaccurate in some places. Quartz also rearranged some items in the list, dividing them into several categories, and their order may not match the order of its “Uniform Tariff Schedule” codes.
Post time: Mar-30-2021