US-China Trade War / China's big counterattack, imposed additional tariffs of up to 15% on many US products

US-China Trade War: China has recently announced an additional tariff of 10 to 15 per cent on several US products, which will be effective from March 10. According to the Chinese Finance Ministry, this tariff will be imposed mainly on major US export products such as chicken, wheat, corn and cotton. This decision is likely to further intensify the already ongoing trade war between the world's two largest economies.

Response to US tariffs

China's move comes in response to US President Donald Trump's order to increase the duty on imports of Chinese products to 20 per cent. Under the new Chinese tariffs:

An additional 15 per cent duty will be imposed on chicken, wheat, corn and cotton grown in the US.

The tariff on sorghum, soybeans, pork, beef, seafood, fruits, vegetables and dairy products will be increased by 10 per cent.

America also adopted a tough stance

From Tuesday, the US has imposed extensive duties on products imported from Canada, Mexico and China. These new duties have brought US tariffs to historic levels, raising concerns among business circles and foreign governments.

A 25 per cent tariff has been imposed on all imports from Canada and Mexico.

The tariff on Chinese goods has been doubled.

The Trump administration believes that tariffs will help correct the trade imbalance. President Trump said at the White House, "This is a very powerful weapon that politicians have not used properly before."

Canada's retaliation

Canada has also announced retaliatory tariffs on additional imports worth 125 billion Canadian dollars from the US. It has been started with a 25% tariff on imports worth 30 billion Canadian dollars from Tuesday.

Canada's Prime Minister Justin Trudeau has said that if the US does not withdraw its tariff decision on Canadian products, Canada will also maintain its tariffs. He also indicated that if the US tariffs are not abolished, his government may consider several other non-tariff measures.

Impact on global trade

The growing tariff dispute between the US, China and Canada can have an impact not only on these countries but also on global trade. Trade experts believe that if this trade war escalates further, it will increase instability in international markets and may affect the economy of many countries.

In this situation, it will be important to see in which direction this trade dispute progresses in the coming weeks and whether any solution can be found through diplomatic talks.