China Vows Retaliation Against Latest Tariffs

China Vows Retaliation Against Latest Tariffs

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Despite a promise to delay some new tariffs, China vows to retaliate against the latest round of taxes. New export data shows China canceled orders of soybeans and purchased only small amounts of pork and sorghum last week.

The numbers have lawmakers calling for action. A lack of farm goods heading to China causes a stir in leading export states like Iowa where commodities like soybeans are directly affected by trade disruptions.

Although President Donald Trump has given American farmers several rounds of trade aid to help offset trade consequences, it may not be enough for some.

China claims the newly proposed tariffs are in violation of a consensus reached at the G20 summit where both countries agreed to cease-fire in the trade war. The increase was set to go into effect Sept. 1st, but President Trump pushed the date until Dec. 15th.

China is the fourth largest trading market for the United States behind Mexico, Canada, and Japan which are all currently renegotiating trade deals with the U.S. as well.

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