China will add 10% tariffs to imports of US seafood products as of Sept. 1, taking the total to 35%, in the latest escalation of the trade war between the two economic superpowers.
All the main products the US sells to China (see a list Undercurrent News put together here) -- such as salmon, cod, lobster, crab, squid and pollock -- are on the list from China's finance ministry for additional tariffs from Sept. 1. These all went to 25% last year unless a Chinese processor is importing to process and re-export.
The ministry said current exemptions will remain in place, suggesting companies will still be able to import raw material for processing and re-export.
In total, the additional tariffs -- not only on seafood -- apply to $75 billion in imported goods. Soybeans, one of the main products the US sold to China before the tariffs and an ingredient for aquafeed producers, will also be hit with the additional tariff.
In a series of tweets a few weeks ago, US president Donald Trump indicated that his administration was on the verge of applying a 10% tariff to salmon, cod, Alaska pollock and a previously exempted style of haddock imported from China.
Then, on Aug. 13, the US government said it's delaying plans to impose an additional 10% tariff on Alaska pollock products imported from China until Dec. 15 [...]
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