Hold onto your avocados, folks—trade tensions between China and the U.S. just got hotter. The Chinese mainland announced fresh tariffs on American imports like chicken, corn, and soybeans starting March 10, with some products facing up to a 15% duty hike. The move comes days after the U.S. slapped new 10% tariffs on Chinese goods earlier this month.
Beijing didn’t stop there: 10 U.S. companies, including TCOM Limited Partnership, were added to China’s “unreliable entity list,” banning them from trade and investments in the country. This escalation could hit American farmers and exporters hard—especially those banking on China’s massive consumer market.
Why the tit-for-tat? China’s government claims the U.S. unilateral tariffs “undermine global trade rules” and hurt businesses on both sides. Meanwhile, professionals and entrepreneurs are bracing for ripple effects in markets from Shanghai to Silicon Valley.
While economists warn this could strain cross-Pacific supply chains, students and travelers might soon feel the pinch too—think pricier smartphones or delayed tech rollouts.
One thing’s clear: The trade war redux is back, and it’s got everyone glued to their phones.
Reference(s):
cgtn.com