China: We’ll Retaliate Against New U.S. Tariffs

China said on Tuesday that it had no choice but to retaliate against new U.S. trade tariffs, raising the risk that U.S. President Donald Trump could soon impose duties on virtually all of the Chinese goods that America buys.

According to Reuters, the Chinese commerce ministry’s statement came hours after Trump said he was imposing 10 percent tariffs on about $200 billion worth of imports from China, and threatened duties on about $267 billion more if China retaliated against the U.S. action.

The brief statement gave no details on China’s plans, but Foreign Ministry spokesman Geng Shuang told a news briefing later that the U.S. steps have brought “new uncertainty” to talks between the two countries.

“China has always emphasized that the only correct way to resolve the China-U.S. trade issue is via talks and consultations held on an equal, sincere and mutually respectful basis. But at this time, everything the United States does not give the impression of sincerity or goodwill,” he added.

Geng said he would not comment on “hypotheticals” such as what measures Beijing might consider apart from tariffs on U.S. products, saying only that details would be released at the appropriate time.

Trump warned on Monday that if China takes retaliatory action against U.S. farmers or industries, “we will immediately pursue phase three, which is tariffs on approximately $267 billion of additional imports.”

The latest U.S. duties spared smart watches from Apple (AAPL.O) and Fitbit (FIT.N) and other consumer products such as baby car seats. But if the administration enacts the additional tariffs it would engulf all remaining U.S. imports from China and Apple products like the iPhone and its competitors would not likely be spared, reports Reuters.

Last month, China unveiled a proposed list of tariffs on $60 billion of U.S. goods ranging from liquefied natural gas to certain types of aircraft – should Washington activate the tariffs on its $200 billion list.

Topics:

Leave a Reply

Industry News

Industry News

ADAMA, Sanonda Finalize Name Change

ADAMA, the combination of Adama Agricultural Solutions Ltd. and Hubei Sanonda Co. Ltd., have announced that the Board of Directors

Industry News

Marrone Bio Innovations Launches TerraConnect New Biological Seed and Soil Platform

Marrone Bio Innovations, Inc. has launched TerraConnect, a new global biological soil applied and seed treatment platform delivering growers high

Industry News

SAPEC AGRO Repositions Brand, Aims to Focus on R&D

SAPEC AGRO has officially adopted the ASCENZA brand name, reinforcing its market presence with a new positioning and image. SAPEC

Industry News

Cibus Files Registration Statement for Proposed Initial Public Offering

Cibus Ltd., a leader in advanced plant-breeding technologies, has publicly filed a registration statement on Form S-1 with the U.S.

Industry News

S&W Seed Acquires Chromatin Assets

Livingstone has announced the sale of substantially all of the assets of Chromatin, Inc. to S&W Seed Co. Chromatin’s assets

Wheat field
Industry News

Arysta LifeScience Launches New Foliar Nutrition Product for Corn, Wheat

Arysta LifeScience has launched RAZE 0-3-2, an advanced foliar nutrition product that promotes more balanced uptake of essential plant nutrients

Industry News

Agrinos Adds Grão de Ouro Agribusiness as New Distribution Partner in Brazil

Agrinos has announced a new distribution partnership with Grão de Ouro, a leading agricultural input supplier serving growers in Brazil.

Parry-lab
Industry News

Parry America Opens New Biopesticide Facility

Parry America Inc. inaugurated its $2 million new manufacturing facility in Catoosa, OK, on September 18, 2018. This state-of-the-art manufacturing

Innovak Seipasa
Industry News

Innovak Global, Seipasa Form Strategic Alliance for Crop Protection in México

Innovak Global. a Mexican company in the development and commercialization of biorational technologies and solutions, and Seipasa, Spanish company specialized

Industry News

Koppert Takes Over Horticoop’s Biological Crop Protection Activities

Koppert Biological Systems will take over the biological crop protection activities of Horticoop B.V. as of 1 November. The takeover

Soybean field
Industry News

Cargill CEO Sees Risk to U.S. Farmers as China Shuns Soybeans

President Donald Trump’s trade war with China may have a lasting impact on American agriculture if it drags on, with

Brazil-Soybean-field
Industry News

Escalating Trade War with China Will Increase Damage to American Soybean Farmers

The Administration’s decision to impose 10% tariffs on an additional $200 billion in Chinese imports — and China’s subsequent retaliation

Americas

CropLife America Names Corteva’s Wasson as Chair

Wasson will hold the position for two years and use her diverse background to help guide the association, working with newly hired President and CEO Chris Novak.

Americas

DowDuPont Announces Corteva Agriscience Leadership

James C. Collins, Jr., currently chief operating officer of the Agriculture Division, will be chief executive officer of Corteva Agriscience.

Industry News

Syngenta Commemorates Retirement of Celebrated Scientist Mary-Dell Chilton

Syngenta celebrated the remarkable career of Mary-Dell Chilton on September 7, during a recognition event at the Syngenta Innovation Center

Industry News

SABIC to Complete Purchase of Stake in Clariant

Clariant, a world leader in specialty chemicals, has announced that SABIC has received the final outstanding regulatory approvals from the

Bayer-Ukraine-Seed-Processing-Facility
Industry News

Bayer Opens New Seed Processing Facility in Ukraine

Bayer has opened a state-of-the-art seed processing facility in Pochuiky, Zhytomyr region. The new facility is the largest of its

Industry News

Syngenta Looks to a Shared Vision for Sustainable Agriculture

Syngenta has announced that over the coming three months it will undertake consultation and engagement with stakeholders from around the

Europe

Heat, Drought Challenge BASF Production, Logistics

Due to the persistent high temperatures and low water levels in the Rhine, BASF SE announced on Aug. 6 has to adjust production and logistics at its Ludwigshafen site.

Latest News

Asia

India: Enabling Modern Agriculture Through IoT

Since the first green revolution in the 1960s that radically transformed the face of Indian agriculture, the sector has consistently

Asia

Reuters: Trump Greenlights Next Round of Farm Payments in China Trade War

The Trump administration will move forward with plans to distribute a second round of payments to farmers caught in the

Markets

AgriBusinessGlobal.com: Top 10 Stories from 2018

What a year it’s been for the global agribusiness industry. While the mergers and acquisitions once again dominated headlines in

Trade Summit

Three Things We Learned at Trade Summit Southeast Asia

Since 2006 AgriBusiness Global™ (ABG) has hosted Trade Summits in all corners of the world in an effort to empower

Asia

AgFunder Releases India AgriFood Startup Investing Report

AgFunder has released the inaugural India AgriFood Startup Investing Report in collaboration with its report partner Omnivore. In this five-year