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Money China just slammed massive tariffs on $34 billion worth of US goods — here's what will get hit

06:26  12 july  2018
06:26  12 july  2018 Source:   businessinsider.com.au

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China just hit the US with massive tariffs . The list of targeted items includes pork, fish, soybeans, and whiskey. In response to Trump's tariffs on Friday, China released a tariff list that will apply to $ 34 billion worth of US exports to Here ' s a rundown of the major goods subject to the new tariffs .

China struck back at US President Donald Trump on Friday with tariffs on $ 34 billion worth of The Chinese tariffs will apply to $ 34 billion worth of US exports to China . The list of goods affected by the tariffs includes soybeans, pork, fish, orange juice, and whiskey.

a close up of Xi Jinping: China's President Xi Jinping and US President Donald Trump.© Provided by Getty China's President Xi Jinping and US President Donald Trump.

    After months of threats and negotiations, the trade war between the US and China officially launched on Friday with both countries imposing tit-for-tat tariffs.

    Soon after US President Donald Trump's imposed a 25% tariff on $US34 billion worth of Chinese goods, China's Ministry of Commerce struck back with tariffs of equal size on some US exports to China.

    It said the first $US34 billion would be followed up by another $US16 billion once the US's second wave of tariffs goes into effect in a few weeks.

    While Trump's tariffs mostly target industrial and tech goods, China is focusing heavily on agricultural products from the US — a move that is likely to not only cause pain to Trump's political supporters, but leave US farmers with fewer options to divert their crops.

    China's Tariff Response Takes Effect as Trump Ignites Trade War

      China's Tariff Response Takes Effect as Trump Ignites Trade War U.S. President Donald Trump is firing the biggest shot yet in the global trade war by imposing tariffs on $34 billion of Chinese imports . China retaliated. Duties on Chinese goods started at 12:01 a.m. Friday in Washington, just after midday in China. Another $16 billion of goods could follow in two weeks, Trump earlier told reporters, before suggesting the final total could eventually reach $550 billion, a figure that exceeds all of U.S. goods imports from China in 2017. U.S.

    The Chinese tariffs will apply to $ 34 billion worth of US exports to China . The list of goods hit by the tariffs includes soybeans, pork, fish, orange juice, and whiskey. Here ’ s a rundown of the major products.

    Here ' s the full list of goods subject to the 25% import tax. The list focuses heavily on industrial and agricultural equipment, as well as chemicals. Trump just slapped tariffs on $ 34 billion worth of Chinese goods — here ' s the full list of products that will get hit .

    For instance, a US cherry producer told The Washington Post last week that a shipment to China was diverted for further inspection and went bad, resulting in a loss for the US firm. While it's unclear whether the delay was due to the trade fight, it highlights the danger for farmers caused by increased protectionism.

    In response to China's retaliation, Trump on Tuesday released a list of another $US200 billion worth of Chinese goods that could get hit with an additional 10% tariff. China's commerce ministry promised a response should Trump move forward with the additional measures.

    Using the international Harmonized System codes on China's list of products affected by its tariffs, we picked out the major US products that will be affected. Check out the list below:

    US ramps up its trade war with China, unveiling a $200 billion list of goods for new tariffs

      US ramps up its trade war with China, unveiling a $200 billion list of goods for new tariffs President Donald Trump's administration is nearing the release of a list of $US200 billion worth of Chinese exports to the US that could be subject to a new 10% tariffs.Load Error

    China is hitting the US with $ 34 billion in tariffs and eight states are going to see more than billion of exports get hurt by the tariffs . China is ramping up its retaliation to President Donald Trump' s massive tariffs . China is set to put tariffs on $ 34 billion worth of US exports to China

    It said the first $ US 34 billion would be followed up by another $ US 16 billion once the US ’ s second wave of tariffs goes into effect in a few weeks. In response to China ’ s retaliation, Trump on Tuesday released a list of another $ US 200 billion worth of Chinese goods that could get hit with an

    Meat

    Pork, beef, chicken, duck, and various smoked meats.

    Fish

    Various types of salmon, trout, catfish, carp, tilapia, halibut, plaice, sole, albacore, tuna, herring, cod, haddock, hake, pollock, dogfish, rays, skates, sea bass, fish roe. Also includes frozen fillets of those fish.

    Other seafood

    Lobster, rock lobster, crab, shrimp, prawns, oysters, scallops, mussels, squid, cuttlefish, octopus, snails, clams, abalone, conchs, sea cucumbers, sea urchins, jellyfish, and various aquatic invertebrates. Also includes prepared or preserved preparations.

    Dairy

    Milk and cream of various fat contents, sweetened milk and cream, yogurt, buttermilk, whey, butter, dairy spreads, and various types of cheese.

    Vegetables and other produce

    Potatoes, tomatoes, onions, shallots, garlic, peas, celery, pumpkins, mushrooms, truffles, chickpeas, various types of beans, lentils.

    Nuts

    Coconuts, cashews, almonds, hazelnuts, walnuts, pistachios, and macadamia nuts.

    Fruits

    Figs, oranges, mandarins (including tangerines), grapefruit, lemons, limes, grapes, apples, pears, quinces, apricots, cherries, peaches, plums, cranberries, blueberries, various other types of berries. Also includes dried varieties of apricots, prunes, apples, and others, as well as fresh and frozen orange juice.

    Grains and grain derivatives

    Wheat, corn, rice, sorghum, corn flour, cereal flour, soybeans, and cotton linters.

    Alcohol

    Ethyl-alcohol spirits, whiskeys, and brewing/distilling dregs.

    Dog and cat food

    Tobacco products

    Raw tobacco, cigars, cigarettes, and waterpipe tobacco.

    Cotton

    Vehicles

    Certain types of electric cars, hybrid cars, small-engine vehicles, and gearboxes for motor vehicles.

    Testing the faith of Trump's supporters at the heart of the US-China trade war .
    Donald Trump's trade war is on track to cost Iowa's farmers millions of dollars, but many are still backing him — for now. It's no coincidence that China's tariffs hit America's rural farming communities — they are the ones who voted Donald Trump into the White House.

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