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The latest retaliatory tariff announced by China today will hit about $60 billion worth of US exports, including hundreds of agricultural, mining and industrial goods, jeopardizing jobs and profits for companies in the United States.
Prior to the official start of the trade war, China bought about 17% of US agricultural exports and was the main market for everything from Maine lobster to Boeing aircraft. China has been the largest market for Apple’s iPhones since 2016. However, China stopped buying soybeans and lobster after the tariff hike, and Apple warned it would miss expected sales data over the Christmas holiday due to trade tensions.
In addition to the 25 percent tariff below, Beijing has also imposed a 20 percent tariff on 1,078 US goods, a 10 percent tariff on 974 US goods, and a 5 percent tariff on 595 US goods (all references in Chinese).
This list has been translated from a press release from the Ministry of Finance of China using Google Translate and may not be accurate in some places. Quartz has also changed the order of some items on the list to group them together, which may not be in the order of their Harmonized Rate Schedule codes.
Post time: Aug-31-2022