China Ups the Ante with New Tariffs and Entity List

China is set to impose additional tariffs of up to 15% on key US farm products such as chicken and pork, effective March 10. Additionally, 10 US firms have been placed on the unreliable entity list, prohibiting investment and trade with China. This move follows US tariff hikes on Chinese imports.

On Tuesday, China announced its decision to impose additional tariffs of up to 15% on crucial US agricultural imports, including chicken, pork, soy, and beef. This tariff escalation, set to take effect on March 10, comes after US President Donald Trump increased tariffs on Chinese imports to 20%.

Alongside tariff hikes, Beijing placed 10 US companies on its unreliable entity list. This action prevents them from engaging in China-related import or export activities and from making any new investments within the country. Senior executives from these firms will also face visa and residency restrictions.

China claims the companies were targeted for their military ties with Taiwan. Concurrently, 15 other US firms, mainly in aerospace and defense, were added to China's export control list due to security concerns. Despite historical tension, US agricultural exports to China, valued at $33.8 billion in fiscal 2023, remained robust.

(With inputs from agencies.)