Xi Jinping's China goes TOUGH on Donald Trump, slaps 10-15% tariff on US goods including chicken, corn, cotton and...

China has announced new tariffs on several US agricultural products in response to the United States’ decision to increase taxes on Chinese goods. According to Reuters, China will impose 10% tariffs on soybeans, sorghum, beef, aquatic products, fruits, vegetables, and dairy products.

The Chinese finance ministry stated that some US imports would face additional tariffs of 10%-15% starting March 10. Goods such as chicken, wheat, corn, and cotton will be hit with a 15% tariff.

These new duties come after US President Donald Trump raised tariffs on Chinese goods from 10% to 20% on Tuesday. He also imposed a 25% tax on imports from Canada and Mexico, two of the US’s biggest trading partners.

In response, Canada announced tariffs on US goods worth $107 billion (155 billion Canadian dollars). Outgoing Prime Minister Justin Trudeau said that a 25% tariff on US products worth 30 billion Canadian dollars would start on Tuesday. Additional tariffs on goods worth 125 billion Canadian dollars will follow within 21 days.

Mexico has also warned the US about possible countermeasures. President Claudia Sheinbaum said the country had multiple backup plans if the US went ahead with its tax hike. "We have a plan B, C, D," Reuters quoted her as saying.

With major economies imposing heavy tariffs on each other, tensions are rising. Experts warn that a full-scale trade war could hurt global markets, increase prices for consumers, and slow down economic growth.