China has just announced that it will engage in economic retaliation against President Trump’s proposed tariffs on Chinese imports totaling over $60 billion to punish the country after the Trump Administration has blamed them for nefarious trade practices and stealing American intellectual property. On Wednesday, Beijing released a list of 106 items that will be imposed with increased duties that will heighten global concerns of a “tit-for-tat trade” war between the world’s two biggest economies.
Virginia farmers are also concerned about the move, saying they will be significantly impacted if China follows through on the tariffs. In a report from The Washington Post, Elaine Lidholm, a spokeswoman for Virginia’s agriculture department, said that China is the Commonwealth’s largest export market for agricultural goods.
Agriculture is Virginia’s largest private industry and Lindholm said the new tariffs could, “have an impact on our overall economy.” She said the tariffs could specifically jeopardize soybeans, pork, wine, and apples.
CNBC released the list of products now under higher duties from China, 33 of which are directly related to argriculture. They are:
1. Yellow soybean
2. Black soybean
3. Corn
4. Cornflour
5. Uncombed cotton
6. Cotton linters
7. Sorghum
8. Brewing or distilling dregs and waste
9. Other durum wheat
10. Other wheat and mixed wheat
11. Whole and half head fresh and cold beef
12. Fresh and cold beef with bones
13. Fresh and cold boneless beef
14. Frozen beef with bones
15. Frozen boneless beef
16. Frozen boneless meat
17. Other frozen beef chops
18. Dried cranberries
19. Frozen orange juice
20. Non-frozen orange juice
21. Whiskies
22. Unstemmed flue-cured tobacco
23. Other unstemmed tobacco
24. Flue-cured tobacco partially or totally removed
25. Partially or totally deterred tobacco stems
26. Tobacco waste
27. Tobacco cigars
28. Tobacco cigarettes
29. Cigars and cigarettes, tobacco substitutes
30. Hookah tobacco
31. Other tobacco for smoking
32. Reconstituted tobacco
33. Other tobacco and tobacco substitute products
China has not set a date to implement its new tariffs, explaining that it depends on when the U.S. will impose its tariffs. The proposed tariffs will target up to $50 billion in U.S. exports.
