Soybean Farmers Concerned As Trump Raises China Tariffs To 125%

By Ryan Hanrahan

The Associated Press' Huizhong Wu reported that "President Donald Trump raised the tariff on Chinese imports to 125% on Wednesday, hours after China boosted the duty on American goods to 84% in an escalating battle that threatens to disrupt trade between the world's two largest economies."

"Citing a lack of respect, Trump set China apart from other countries. He said in a social media post that he is pausing his 'reciprocal tariffs' on many other trading partners because they had responded by reaching out for talks rather than retaliating," Wu reported. "The tit-for-tat hikes between the U.S. and China are the latest in an ongoing trade war that threatens to raise prices for consumers in America and derail China's attempts to reinvigorate its sluggish economy. The response from the Chinese government signals its determination not to bend to Trump's pressure, despite the risks."

"'If the U.S. insists on further escalating its economic and trade restrictions, China has the firm will and abundant means to take necessary countermeasures and fight to the end,' China's Ministry of Commerce said before announcing its latest tariff hike," Wu reported. "In Washington, White House press secretary Karoline Leavitt said: 'When you punch at the United States of America, President Trump is going to punch back further.'"