And that prompted China to retaliate with an 84 per cent tariff on everything from the U.S. And to file a second appeal to the World Trade Organization.
Canadian farmers are likely to feel the impacts.
China might buy pork and beef from Canada instead, but because the U.S. faces such high tariffs to export to China, its pork and beef prices will probably decline, and Canadian prices track U.S. prices.
China had hit U.S. corn with a 15 per cent tariff and soybeans with 60 per cent, but those now apparently increase to 84 per cent.
While China could buy Canadian canola instead of U.S. soybeans, it has put a tariff on canola oil and meal in response to Canada’s 100 per cent tariff on China’s electric vehicles. The Canadian car tariff matches on the U.S. imposed and keeps Canada from becoming a back door for China to sell the cars to the U.S.
Trump’s tariff moves are facing increasing opposition from within the U.S. and consternation around the world.