China targets US agricultural imports with countertariffs

China announced a slew of countertariffs on US agricultural imports, effective March 10, the country's finance ministry said March 4.

An additional 15% tariff will be imposed on chicken, wheat, corn and cotton, China's State Tariff Commission said.

An additional 10% tariff will be imposed on sorghum, soybeans, pork, beef, aquatic products, fruits, vegetables and dairy products.

China is the biggest market for US agricultural products and soybeans are the top exports from the US to China.

Chinese imports of US agricultural products fell to $29.1 billion in 2024, down 24% from 2023, the US Department of Agriculture trade data showed.

Beijing's countertariffs followed threats from US President Donald Trump of additional 10% tariffs on top of those announced in February on Chinese exports.

This is China's second round of tit-for-tat tariffs on US goods. In its first set of tariffs that came into effect Feb. 10, China levied a 15% border tax on imports of US coal and LNG products.

There is also a 10% tariff on US crude oil, agricultural machinery and large-engine cars.

On March 3, the US said it would impose 20% tariffs on all imports from China and 25% on all Canadian and Mexican imports, save for a 10% tariff on Canadian energy and critical minerals, effective March 4.