China fired a shot that was heard around the world on Monday when they announced that they would be dramatically raising tariffs on U.S. goods...
China will raise tariffs on $60 billion in U.S. goods in retaliation for the U.S. decision to hike duties on Chinese goods, the Chinese Finance Ministry said Monday.According to CNBC, these new tariffs are going to be particularly damaging for U.S. farmers...
Beijing will increase tariffs on more than 5,000 products to as high as 25%. Duties on some other goods will increase to 20%. Those rates will rise from either 10% or 5% previously.
The duties in large part target U.S. farmers, who largely supported Trump in 2016 but suffered from previous shots in the Trump administration's trade war with China. The thousands of products include peanuts, sugar, wheat, chicken and turkey.















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