Trade Tensions Escalate: China and U.S. Tariff Chess

China announces new tariff hikes of 10%-15% on select U.S. imports, while the U.S. imposes 25% tariffs on imports from Mexico and Canada, and increases duties on Chinese goods to 20%. This move creates new trade tensions affecting agricultural markets, with soybean supply dynamics being a focal point.

Beijing has declared new tariffs ranging from 10% to 15% on specific U.S. goods, effective from March 10, in response to recent U.S. tariff hikes.

President Trump's administration initiated 25% tariffs on Mexican and Canadian imports, alongside increasing Chinese import duties to 20%, sparking fresh trade disputes.

Experts predict negative impacts on U.S. agricultural sectors, particularly concerning soybean exports, while Chinese aquatic products face higher U.S. import duties, complicating trade logistics.

(With inputs from agencies.)