Xi Jinping
JF-Expert Member
- Jun 14, 2023
- 3,651
- 11,548
China suspends soybean imports from three US companies, including Louis Dreyfus, one of the world’s biggest agricultural trading companies.
More than half of all soybean exports from the US go to China. (60-65% of US soybean export is to China!)
China imposes retaliatory tariffs on agricultural imports from the US.
🔹10% tariff on American sorghum, soybeans, pork, beef, seafood, fruits, vegetables, and dairy products
🔹15% tariff on chicken, wheat, corn, and cotton from the US.
China’s retaliatory tariffs and bans on American soy are gonna hurt farmers, especially in the “red” states that voted for Trump. Good year to be a Brazilian soybean farmer.
🔴China has placed 15 US entities, including Leidos, on its export control list. These entities are now prohibited from receiving dual-use items from China, and any ongoing exports must be halted immediately. Special cases requiring exports must first obtain approval from the Ministry of Commerce.
🔴Additionally, ten US companies, including TCOM, have been added to China's "unreliable entity list." These companies are now banned from engaging in import and export activities related to China and from making new investments in the country.
🔴Effective February 4, the US company Illumina Inc. has also been added to the unreliable entity list, with restrictions prohibiting its export of gene sequencing devices to China.
More than half of all soybean exports from the US go to China. (60-65% of US soybean export is to China!)
China imposes retaliatory tariffs on agricultural imports from the US.
🔹10% tariff on American sorghum, soybeans, pork, beef, seafood, fruits, vegetables, and dairy products
🔹15% tariff on chicken, wheat, corn, and cotton from the US.
China’s retaliatory tariffs and bans on American soy are gonna hurt farmers, especially in the “red” states that voted for Trump. Good year to be a Brazilian soybean farmer.
🔴China has placed 15 US entities, including Leidos, on its export control list. These entities are now prohibited from receiving dual-use items from China, and any ongoing exports must be halted immediately. Special cases requiring exports must first obtain approval from the Ministry of Commerce.
🔴Additionally, ten US companies, including TCOM, have been added to China's "unreliable entity list." These companies are now banned from engaging in import and export activities related to China and from making new investments in the country.
🔴Effective February 4, the US company Illumina Inc. has also been added to the unreliable entity list, with restrictions prohibiting its export of gene sequencing devices to China.
"China does not fear coercion or bullying, if the US insists on escalating tensions through tariffs or other confrontational tactics, China will respond accordingly."
– Lin Jian (Chinese Foreign Ministry spokesperson)
– Lin Jian (Chinese Foreign Ministry spokesperson)