Proposed new US tariffs on China include oils and fats products
July 11, 2018
A range of oils and fats products are included in a list of more than 6,000 items on which the USA may impose additional import tariffs, in its escalating trade war with China.
The list on more than US$200bn worth of Chinese imports was announced on 11 July, just a few days after the countries imposed US$34bn worth of tariffs on each other, BBC reported.
It includes a slew of oils and fats products, among them soyabeans, soyabean oil and meal, flaxseed, sunflower seed, rapeseed, fish oils, wool grease, animal fats and oils, and various oilseed flour, meal and cakes.
Additionally, the list includes butter, fish, various vegetables and fruit, cereals such as barley, oats and sorghum, chemicals, minerals and consumer goods.
A public comment period on possible 10% tariffs on the listed products would run until the end of August, the US administration said.
China said it would again respond to the new tariffs in kind but, according to the BBC, it could not directly match the total of US$234bn worth of goods due to not importing enough US products, one of President Donald Trump’s big grievances.
Instead, China could target US companies operating in the country by taking more aggressive regulatory action, such as safety and financial inspections.
In early July, the USA imposed tariffs on some Chinese imports, accusing China of “unfair trade practices”.
China responded with tariffs of its own on a number of US imports, including soyabeans, which are the USA’s largest agricultural export to China.
Due to the Chinese tariffs, several news channels reported that soyabean prices in the USA had crashed.