Within 24 hours after President Trump signed in $50 billion worth of tariffs on Chinese technology and manufacturing products, Beijing has answered in kind.
China has raised up to 25% tariffs on a list of 106 US goods covering a broad base of product types including the key US export soybeans.
Whiskey, tobacco, corn, and cotton are also named on the list, as well as some chemicals and automotives, according to the Chinese finance ministry.
The implementation date of the new duties has yet to be specified.
Chinese authorities have recently expressed their disapproval for the tariffs proposed by the US yesterday, which will target industries seen as central to the development of China’s manufacturing sector and beneficiaries of what the US perceive as unfair trade practices by Chinese companies, particular with respect to the acquisition of intellectual property.