China to impose extra tariffs of 10-15% on various US imports from March 10

China will impose additional tariffs on certain US products starting from March 10, the Customs Tariff Commission of the State Council said on Tuesday. An additional 15 percent tariff will be imposed on imported chicken, wheat, corn and cotton, while 10 percent tariff will be imposed on sorghum, soybean, pork, beef, aquatic products, fruits, vegetables and dairy products, per the statement. For these products, corresponding tariffs will be added to the current tariff rates. Current bonded policies as well as tax reduction and exemption policies will not change, and the latest tariffs to be imposed will not be reduced or exempted, according to the statement. On Monday, the US government announced the imposition of an additional 10 percent tariff on all Chinese goods imported to the US citing the fentanyl issue as an excuse. The unilateral tariffs undermine the multilateral trading system, exacerbate the burden on American businesses and consumers, and damage the fundamental ...