The trade tensions between the U.S. and China are escalating.
Friday morning, China’s Ministry of Commerce announced new tariffs on
$75 billion of imported goods from the U.S.
Bloomberg says that includes an additional 5% tariff on U.S. soybeans,
bringing the total tax to 30%, and another 5% on U.S. crude oil, both beginning
September 1st, along with the renewal of the 25% tariff on U.S. cars, starting
December 15th.
The move is in response to President Trump’s planned 10% duties on
another $300 billion of imports from China, effectively taxing everything the
U.S.
Continue reading China raises tariffs on U.S. soybeans, crude oil at Brownfield Ag News.
