The Chinese government unveiled stiff new taxes on specific US products and goods this week; calling the revised policies a direct “retaliation” for President Trump’s recent tariffs on international steel and aluminum.
According to CBS News, Beijing rolled-out the increased import tariffs on American meat, fruit, and other goods Monday; adding the measures would go into effect immediately.
The new guidelines include a 25% tax on pork and other meats and a 15% tax on fruits and vegetables.
The move comes just days after President Trump slammed the Chinese government with nearly $50 billion in tariffs over what US officials described as “unfair” trade policies and “illegal” theft of intellectual property rights for decades.
“We have spoken to China and we are in the midst of a very large negotiation,” said the President last week. “We will see where it takes us. In the meantime, we are sending a Section 301 action.”
President Trump routinely slammed America’s import deficit with China and other nations throughout the 2016 race for the White House; saying world leaders were “smarter” than his predecessors in negotiating “terrible” trade deals.