Hong Kong – Both China and Canada quickly moved on Tuesday to retaliate against new US tariff taxes, announcing their own taxes on US assets that could further interrupt the trade in the United States with their three main commercial partners.
An American blanket rate of 25% on the imported goods of Canada and Mexico entered into force just after Tuesday midnight, along with an additional 10% rate on China’s goods. The three countries together represented more than 40% of the total imports of the United States last year and are also their three main export markets.
China will impose additional tariffs of up to 15% in some American goods, said its government, while Canada promised tariffs up to 25%. Mexican president Claudia Sheinbaum is expected to announce her response at a press conference in Mexico City on Tuesday morning, the country’s Ministry of Economy said.
The new Chinese taxes, which enter into force on March 10, include a 15% tariff on chicken, wheat, corn and cotton, and 10% of the sorghum rate, soybeans, pork, beef, fruits, fruits, vegetables and dairy and aquatic products.
“The increase in the unilateral rate by the United States damages the multilateral commercial system, increases the burden of US companies and consumers and undermines the bases of China-United States economic and commercial cooperation,” said the China customs tariffs commission in a statement.
The US tariff adds to a 10% previous rate that President Donald Trump imposed on Chinese products from February 4. China also responded immediately to that rate with its own specific levies from 10% to 15% in US products that include coal, liquefied natural gas, crude oil, agricultural machinery and large cars.
Canada had previously said that it would impose tariffs of 25% to 155 billion Canadian dollars ($ 107 billion) in American goods if the US rate. Uu. It entered into force as scheduled.
Tariffs on goods of $ 20.7 billion will immediately enter into force, while tariffs on the remaining $ 86.3 billion in US products. UU. They will begin in 21 days, said Canadian Prime Minister Justin Trudeau in a statement on Monday night. They will remain until the commercial action of the United States is withdrawn, he said.
“Due to tariffs imposed by the United States, Americans will pay more for groceries, gas and cars, and will potentially lose thousands of jobs,” said Trudeau. “Tariffs will interrupt an incredibly successful commercial relationship. They violated the same commercial agreement that President Trump negotiated in his last term. ”
