On March 4, China announced the imposition of additional tariffs of up to 15% on key US agricultural products, including chicken, pork, soybeans and beef.
The tax rate announced by the Chinese Ministry of Commerce will take effect from March 10.
China's tax move comes after the order to increase tariffs on Chinese imports into the US to 20% took effect on March 4.
According to the measures just announced by China, chicken, wheat, corn and cotton imported from the US will be subject to an additional tax rate of 15%. China's tariffs on high- salaries, soybeans, pork, beef, seafood, fruits, vegetables and dairy products originating from the US will increase by 10%.
Also on March 4, Beijing added 10 more US companies to the list of untrustworthy entities, banned them from engaging in import-export activities related to China and banned new investments in China.
10 companies include: TCOM Limited Partnership; stick Rudder Enterprises LLC; Teledyne Brown Engineering; Huntington Ingalls Industries; S3 AeroDefense; Cubic Corporation; TextOre; ACT1 Federal; Exovera and Planate Management Group.
Senior executives of these companies will also be banned from entering China, according to the Chinese Ministry of Commerce.
China is a major customer for US agricultural products. In 2021-2022, the US recorded a record export value to China with soybeans, corn, beef, chicken, hay and nuts. But China has diversified its agricultural imports, buying more soybeans from Brazil, Argentina and other suppliers.
