China Retaliates After Trump Tariffs Come Into Effect

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In the latest development of the ongoing trade tensions between the United States and China, Beijing has announced a fresh set of countermeasures in response to the US-imposed tariffs. The Chinese government is sticking to a well-rehearsed playbook, demonstrating a calculated approach to its trade policies.

At precisely 1 p.m., moments after the US tariffs were made public, China released its countermeasures. This time, the measures are more extensive than those announced in the previous round in February. The new tariffs range from 10% to 15% on a selection of US goods, primarily targeting the agricultural sector.

A Breakdown of China’s Tariffs

China's new tariff impositions include:

• 10% Tariffs on pork, beef, soybeans, sorghum, fruits, vegetables, and dairy products.

• 15% Tariffs on wheat, cotton, chicken, and corn.

Among these, the tariffs on soybeans have been highly anticipated due to the significant trade volume between the two nations. While these tariffs are impactful, they remain less severe in comparison to the US tariffs, which stand at 20% when accounting for both rounds of 10% tariffs imposed by the US administration.

Comparing the Scale of Tariffs

The disparity in the scope of tariffs is evident. The US tariffs cover all Chinese goods, while China’s tariffs are more targeted, focusing largely on agricultural commodities. This strategic move sends a clear message that China is willing to retaliate but remains open to negotiations. A spokesperson from China’s National People’s Congress (NPC) reaffirmed this stance, stating that China hopes to resolve trade issues through consultation rather than escalation.

Beyond Tariffs: Additional Countermeasures

China is not solely relying on tariffs in its counter-response. Other non-tariff measures include:

• Adding ten US firms to its “Unreliable Entity List”—a move signaling restrictions on companies deemed detrimental to China’s national security and interests.

• Prohibiting the sale of dual-use items to 15 US entities, limiting technology exports that could have both commercial and military applications.

• Filing a complaint with the World Trade Organization (WTO), a familiar tactic China employs to challenge trade restrictions on legal grounds.

Market Reactions and Economic Implications

The Asian markets showed resilience despite the tariff announcements. Many indices initially dipped but later rebounded, indicating a “buy the rumor, sell the fact” response. Analysts suggest that China’s countermeasures were not as severe as some had feared, leading to a more tempered reaction from investors.

What’s Next?

With the Chinese NPC’s key economic report scheduled for release, all eyes are on Premier Li’s statements regarding growth targets, inflation goals, and potential stimulus measures. While China has now announced its countermeasures, the focus shifts to backchannel negotiations and high-level talks, which have yet to commence in earnest.

China’s long-term strategy remains clear: strengthen domestic economic resilience and boost consumption to counteract external economic pressures. While trade tensions persist, Beijing appears committed to mitigating risks and maintaining stability.