While the President's brinksmanship with our closest neighbors took the air out of the room, the enhanced actions against China did not go unnoticeed.
An amended Executive Order increases ad valorem tariffs on specified Chinese products from 10% to 20% under the authority of the International Emergency Economic Powers Act and related statutes.
As retaliation, China slapped an additional 15 percent tariff on US chicken, wheat, corn and cotton products, and an additional 10 percent tariff on sorghum, soybeans, pork, beef, seafood, fruits, vegetables and dairy products. China’s customs agency also announced it was suspending imports of wood from the United States.
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