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Commodity Mid Session News

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(04 Mar 2025, 13:38)

Economic Buzz: China retaliates with extra tariffs of up to 15% on imports of major US farm products


China announced Tuesday it will impose additional tariffs of up to 15% on imports of key US farm products, including chicken, pork, soy and beef. The tariffs announced by the Commerce Ministry are due to take effect from March 10. They follow US President Donald Trump's order to raise tariffs on imports of Chinese products to 20% across the board. Those took effect on Tuesday. Imports of US grown chicken, wheat, corn and cotton will face an extra 15% tariff, it said. The tariff on sorghum, soybeans, pork, beef, seafoods, fruit, vegetables and dairy products will be increased by 10%.

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