Beijing has imposed broad tariffs on food imports from the United States, including chicken, wheat, and other commodities. The move is seen as a strong reaction to US President Donald Trump’s decision to impose tariffs on Chinese goods worth up to $440 billion.
The new tariffs are expected to have a significant impact on global markets, with some analysts predicting a rise in prices for imported food products. China’s average tariffs on goods from the US are now twice as high as those imposed by the US on most trading partners.
The retaliatory move is part of China’s broader strategy to counter US tariffs and protect its domestic industries. Beijing has also blocked imports of American technology companies’ equipment, including Google, and launched an antimonopoly investigation into Google.
China’s government has also expressed a desire to deepen trade relations with European countries, citing the potential for mutual benefit in areas such as manufacturing and technology.
The US-China trade war has been ongoing since 2018, with both sides imposing tariffs on each other’s goods. The conflict has had significant implications for global markets, trade, and economic growth.
China’s leader, Xi Jinping, has called on the world to work together to address global challenges such as climate change and pandemics, while also emphasizing the need for cooperation in areas like technology and trade.
The US and China are expected to continue negotiating their differences, with some analysts predicting a potential breakthrough in the coming months. However, others warn that the trade war could have long-term consequences for the global economy.
Source: https://www.nytimes.com/2025/03/04/business/trump-tariffs-china-reacts.html