China Slaps Tariffs On US Imports Including Pork, Nuts And Wine

As previewed one week ago, on Sunday China unveiled new retaliatory duties on US food imports including pork, nuts, wine and fruits of between 15% and 25% in response to Trump administration’s Section 232 tariffs (not to be confused with the $60BN in Section 301 tariffs unveiled subsequently) on steel and aluminum imports.

In a statement posted on China's Ministry of Finance website, China’s Customs Tariffs Commission confirmed reports from March 23, stating that additional duties on 128 kinds of products of US origin would be introduced from Monday "in order to safeguard China’s interests and balance the losses caused by the United States additional tariffs."

As was already known, the highest tariffs of 25% will be imposed on top of existing duties on imports of US scrap aluminium and various kinds of frozen pork. A lower, 15% tariff, will be slapped on dozens of US foods including wine, fresh and dried fruits such as cherries, nuts such as almonds and pistachios, and various kinds of rolled steel bars

As the FT notes, the list was consistent with measures proposed by Beijing last month when it said it was planning tariffs on $3BN of US imports. The response was seen as relatively measured since it left out key US exports to China such as soyabeans, of which the US exported some $14bn last year. Since Beijing has yet to retaliate to the 25% duty on up to $60bn of annual imports from China that Trump promised later last month, it is almost guaranteed that Beijing will make a tougher response in the future.

While most analysts say Beijing is reluctant to escalate trade disputes with Washington, as its mercantilist economy  would have more to lose in any trade war, some influential commentators in China have called for a more robust response to the US’s next set of tariffs, the details of which are yet to be announced but which are expected to be aimed at strategic sectors such as robotics, which Beijing is promoting as part of its industrial policy.

Additionally, as the FT notes, retaliating against soyabean shipments could have a big impact on US farmers, many from states that voted for Mr Trump in the 2016 presidential election. But it would also involve significant pain for China. The country relies heavily on the US for the product, which is used as an animal feed.

For now, however, and as laid out below, items on Beijing’s original hit-list, issued on March 23, includes 128 products split into seven groups and including U.S. pork, recycled aluminum, steel pipes, fruit and wine. The Chinese ministry will implement measures in two stages: first, a 15% tariff on 120 products including steel pipes, dried fruit and wine, and later, a 25% tariff on pork and recycled aluminum.

he full list of US imports targeted by China is below

Comments

dirty fingernails jcaz Sun, 04/01/2018 - 17:45 Permalink

Are you fucking retarded or just ignorant? I live in the corn belt. It is a red as red gets around here. The citys are split, but the countryside is very, very republican. I *still* pass houses that have Trump signs out and hand painted signs in yards about being proud to be a deplorable. I'm sure it varies, but it was the same way back in NC, GA, TN, IN, and OH so I'm pretty sure of what I'm talking about. Or can't you read a fucking map well enough to see that the breadbasket of the US are red states. JFC you people are fucking ignorant.

You single point rebuttal based PURELY on false ideological that only Dems get subsidies just shows that you just reguritate what you hear without straining yer widdle head.

In reply to by jcaz

jcaz dirty fingernails Sun, 04/01/2018 - 17:56 Permalink

You're precious, Princess.  Farmers are Democrats.  Always have been always will be.

You're referencing Democratic farmers who crossed over for Trump- nice try.

Republican farmers, because they're all against subsidies and trade controls- wow........  All three of them.

Psst- it's spelled "Cities"- if you're gonna live in one someday, it's best to learn now......

 

In reply to by dirty fingernails

Hugh_Jorgan Archive_file Sun, 04/01/2018 - 19:25 Permalink

Yep, farm subsidies always were the foodstamps, WICK, EBT of of the GOP. Don't for get the land subsidies that help Cargill and MonsantoBayer to tighten their stranglehold on food production. Oh and Big Phat Pharma, who think 100x the  "R&D" cost is the only fair ROI and have no qualms about squeezing old folk's retirement/pensions to the tune of $50/pill or more for new drugs. I could go on...

There *used* to be quite a few of the ol' blue dog democrat farmers in the deep south. But today the DNC have policies that are far left most radical liberal arts professors in the 60's and 70's. So, the blue dogs are pretty much extinct.

In reply to by Archive_file

Farmerz jcaz Sun, 04/01/2018 - 18:26 Permalink

The walnuts I grow, some of which go to China, that now have a tariff on them, will reduce the demand for California walnuts. Only one that loses in that deal is me. Haven't met too many Democrat farmers in this heavily red rural California County. In fact, off the top of my head I can't think of any.  Even the East Indian farmers here are quite conservative. Don't get a dime of subsidy either.

In reply to by jcaz