China said Tuesday that it will hit back against President Donald Trump with retaliatory duties of five or 10 percent against another $60 billion worth of American products.
The response comes one day after Trump issued the largest number of tariffs yet in an escalating trade dispute. Politico says China is scheduled to implement their plan on Monday to coincide with the new U.S. duties. A total of $113 billion in U.S. exports are now subject to tariffs while duties will be in place on $253 billion in Chinese products.
Trump is prepared to go even higher, saying Tuesday that he’s ready to impose duties on another $267 billion in Chinese imports. The new tariff list includes meat products, including lamb and salted beef; frozen and canned produce like peas and spinach; refined ingredients like soybean, corn, and coconut oil, to processed oats; along with coffee, teas, and liquors.
Ag groups weren’t happy with Trump’s decision to take things further. “As we head into the 2018 harvest season for corn and soybeans out here in Iowa, this escalation of the trade conflict couldn’t have come at a worse time,” says Iowa Ag Secretary Mike Naig.