Singapore — China’s tariff hit of up to 25 percent for U.S. agriculture could be a big gain potentially for Australia, particularly for wine and certain nut and fruit producers.
China’s finance ministry announced it would impose retaliatory tariffs on up to 128 kinds of U.S. goods, following through on a threat initially made March 23 by Beijing that it would target $3 billion worth of American imports.
China is increasing the tariff on U.S. pork by 25 percent, and a new 15 percent duty will apply to other food commodities in addition to wine, including fresh fruits such as apples, cherries and citrus as well as dried fruit and nuts such as almonds and pistachios.
China’s government said the move follows the Trump administration last month announcing hefty tariffs on imported steel and aluminium.
