Brief by Shorts91NewsDesk / 09:42am on 05 Mar 2025,Wednesday Business
In a significant escalation of trade tensions, China has vowed to retaliate against the United States' recent decision to double tariffs on Chinese imports from 10% to 20%. Chinese Foreign Ministry Spokesperson Lin Jian criticized the U.S. for using the fentanyl crisis as a "flimsy excuse" to justify the tariff hikes, asserting that America alone is responsible for its opioid crisis. In response, Beijing announced additional tariffs of up to 15% on U.S. agricultural products, including chicken, wheat, corn, and cotton, effective March 10. Furthermore, China expanded its export control list, adding 15 American companies, such as drone manufacturer Skydio, restricting Chinese firms from exporting dual-use technology to these entities. Lin emphasized China's readiness to "fight till the end" in any conflict initiated by the U.S., be it a tariff war, trade war, or otherwise.
