N🟁N

China hits back with tariffs on key US farm exports, including soy and beef

China has retaliated against the United States by imposing tariffs on key American agricultural exports such as soybeans, beef, and corn, in response to the U.S. increasing tariffs on Chinese electric vehicles, solar cells, and other goods. This move comes as part of an escalating trade war between the two economic giants, with China's Ministry of Commerce announcing additional tariffs on $18 billion worth of U.S. products. The new tariffs, which will range from 25% to 50%, are set to take effect on June 15, 2024. This action not only targets agricultural products but also includes chemicals, medical equipment, and other commodities, signaling a significant escalation in trade tensions. The U.S. had previously criticized China for unfair trade practices, leading to the initial tariff hikes by the U.S. administration.

Read the Full MSN Article at:
[ https://www.msn.com/en-in/general/general/china-hits-back-with-tariffs-on-key-us-farm-exports-including-soy-and-beef/ar-AA1Ac6WE ]