From Farm Policy News
Reuters’ Trevor Hunnicutt and Kevin Krolicki reported that “China imposed targeted tariffs on American imports on Tuesday and put several U.S. companies, including Google, on notice for possible sanctions, in a measured response to the sweeping duties on Chinese imports imposed by President Donald Trump.”
“Beijing’s limited reply to Trump’s imposition of a 10% tariff on all Chinese imports underscored the attempt by Chinese policymakers to engage Trump in talks to avert an outright trade war between the world’s two largest economies,” Hunnicutt and Krolicki reported. “Capital Economics, a U.K.-based research firm, estimated that China’s additional tariffs would apply to about $20 billion of annual imports, compared with the $450 billion worth of Chinese goods subject to the Trump tariff that took effect at 12:01 a.m. ET on Tuesday (0501 GMT).” Read the rest of the article here.