Over the past weeks, Beijing and Washington have been engaged in a full-fledged commercial war, trading threats to impose further restrictions on each others’ imports.
Chinese imports of US agricultural products will fall sharply when Beijing introduces its retaliatory measures, Vice Agriculture Minister Han Jun stated, noting that it will not impact China’s agriculture sector.
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According to the minister China can satisfy its demand for oils and animal feed.
This week, China vowed to impose additional 25 percent tariffs on $16 billion worth of US imports in response to restrictive measures against Chinese goods slapped earlier by the United States. Beijing’s move is yet the latest episode in mounting tit-for-tat trade tensions between the US and China.
Commercial frictions between Beijing and Washington have been mounting since US President Donald Trump announced tariffs on steel and aluminum imports in March, triggering a wave of disputes with a number of key trade partners. China and the US have since been exchanging threats to impose further bilateral import duties.