Escalating Tariff Wars: China Strikes Back at US in the Global Trade Arena

China has imposed additional tariffs on American goods in response to President Trump's recent tariff hike on Chinese exports. The retaliatory move includes legal action against the US at the WTO, as well as measures against American companies. The developments coincided with China's annual parliamentary sessions.

In a significant escalation of the trade tensions between the United States and China, Beijing has announced an increase in tariffs on American imports. This comes in response to US President Donald Trump's recent tariffs on Chinese exports, which have set off a series of retaliatory measures from China.

Effective from March 10, China will impose an additional 15% tariff on American goods, impacting products such as chicken, wheat, corn, and cotton, according to the China's Customs Tariff Commission. Other American exports like sorghum, soybeans, and dairy products will face an additional 10% tariff.

The move is accompanied by China initiating legal proceedings against the US through the WTO's dispute mechanism and listing 10 US firms in the country's unreliable entity list. China's response underscores the strained economic ties with the US, coinciding with the opening of China's annual parliamentary sessions, emphasizing the urgency of resolving trade disputes.

(With inputs from agencies.)