BEIJING — In a significant escalation of ongoing trade tensions, China has announced additional tariffs of up to 15% on various imports of U.S. agricultural products such as chicken, pork, soy, and beef, set to take effect on March 10. This decision follows U.S. President Donald Trump’s recent increase of tariffs on Chinese goods to 20% across the board, which took effect concurrently on March 10. The new tariffs are aimed at a range of American farm products, with specific duties applied: a 15% tariff on U.S.-grown chicken, wheat, corn, and cotton, while sorghum, soybeans, pork, and dairy products will incur a 10% increase, according to the NPR.

In retaliation to Trump’s measures, Chinese Foreign Ministry spokesman Lin Jian stated that if the United States continues to pursue what he described as a “tariff war,” China is prepared to “fight them to the bitter end.” This escalatory rhetoric underlines the deepening rift between the two largest global economies as they engage in a prolonged trade conflict. The Chinese response also included placing ten additional U.S. companies on its unreliable entity list, effectively barring them from trade and investment activities in China. Some affected companies include Huntington Ingalls Industries and Cubic Corporation, among others as reported by India Times.

Furthermore, the new tariffs represent a substantial part of China’s strategy to counteract U.S. trade actions, as imports of American farm products had previously soared to a record high of $33.8 billion in the fiscal year of 2023. However, purchases from China have diversified, with increasing imports from countries like Brazil and Argentina as they seek alternatives to U.S. goods, indicating a shift in supply chains according to HuffPost.

Analysts observe that these latest tariffs are a form of economic retaliation that will likely prolong the trade war, impacting not only the bilateral trade between the nations but also global markets. As tensions mount, the prospect of negotiations seems dim, with both sides locked in a stance that prioritizes national interests over cooperative trade relations. The coming months will be pivotal in determining whether the rhetoric translates into further economic implications.