New tariffs imposed by China on American agricultural products are projected to impact approximately $21 billion in U.S. exports, according to an analysis of U.S. census data by Reuters.
The most significant impact, in terms of value, will be on the U.S. soybean market, which is the largest agricultural export to China. This sector will face a 10% tariff and was valued at nearly $13 billion last year, as indicated by the data.
Reuters assessed the overall effect by comparing the 740 items announced by China with the trade database from the U.S. census.
See more: Trump Plans to Announce New Trade Tariffs.
Categories such as vegetables and aquatic products included hundreds of specific items, from frozen haddock to onions. For pork and beef, the tariffs apply to both frozen and fresh meat, as well as offal.
For a detailed list of the 740 items released by China’s Ministry of Finance, please refer to the provided source.
