June 20, 2018 — Last Friday U.S. and Chinese officials announced a bundle of tariffs, each targeting the other nation’s exports in what could become an all-out trade war.
President Donald Trump made an announcement early in the day imposing a 35 percent tariff on all Chinese goods containing “industrially significant technologies,” an estimated $50 billion worth of Chinese goods, calling the move an effort to boost domestic production.
More than 800 products, about $34 billion worth, will be subject to tariffs starting July 6. About 280 other exports will need to undergo a public comment period and will take effect later.
Later in the day of June 15, officials with the Ministry of Finance of the People’s Republic of China responded with the announcement of a retaliatory 25 percent tariff on various U.S. exports, including many seafood products. That 25 percent would be charged on top of existing tariffs.
“We are deeply disappointed in these retaliatory tariffs. There is no connection between the products targeted by the U.S. and the tariffs Beijing plans to impose on exported American seafood,” said John Connelly, president of the National Fisheries Institute.
Read the full story at National Fisherman