United States President Donald Trump has hit China with another round of tariffs on products that account for close to $40 billion a year of U.S. imports.
China hit back with hours with tariffs of 25 per cent on more than 100 items worth more than $60 billion including U.S. soybeans, corn products, cotton, Jack Daniel’s whiskey, Tesla and Lincoln cars and Gulfstream jets.
Trump began with a 25 per cent tariff on steel and aluminum which amounted to about $60 billion worth of imports from China last year.
China responded to that steel and aluminum tariff announcement by imposing a 20 per cent tariff on U.S. pork, nuts and fruits worth close to $4 billion last year.
Pork is about $1.4 billion of that total; last year China bought about two per cent of the U.S. pork supply.
Canadian farmers will be side-swiped by the U.S. fallout from the Chinese tariffs.
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