<p>Beijing: China on Tuesday swiftly retaliated against fresh US tariffs, announcing 10 per cent-15 per cent hikes to import levies covering a range of American agricultural and food products, and placing twenty-five US firms under export and investment restrictions.</p>.<p>The extra 10 per cent duty US President <a href="https://www.deccanherald.com/tags/donald-trump">Donald Trump</a> threatened China with last week entered into force at 0501 GMT on March 4, resulting in a cumulative 20 per cent tariff in response to what the White House considers Chinese inaction over drug flows. The tariff represents an additional hike to preexisting levies on thousands of Chinese goods.</p>.Trump imposes 25% tariffs on Canada, Mexico sparking new fears of trade war.<p>The US has argued that China supplies chemicals used in fentanyl production. China has denied any wrongdoing.</p>.<p>Beijing will impose an additional 15 per cent tariff on US chicken, wheat, corn and cotton and an extra 10 per cent levy on US soybeans, sorghum, pork, beef, aquatic products, fruits and vegetables and dairy imports from March 10, the finance ministry announced in a statement.</p>.<p>"The US's unilateral tariffs measures seriously violate World Trade Organization rules and undermine the basis for economic and trade cooperation between China and the US," China's commerce ministry said in a separate statement.</p>.<p>"China will firmly safeguard its legitimate rights and interests," the statement added.</p>
<p>Beijing: China on Tuesday swiftly retaliated against fresh US tariffs, announcing 10 per cent-15 per cent hikes to import levies covering a range of American agricultural and food products, and placing twenty-five US firms under export and investment restrictions.</p>.<p>The extra 10 per cent duty US President <a href="https://www.deccanherald.com/tags/donald-trump">Donald Trump</a> threatened China with last week entered into force at 0501 GMT on March 4, resulting in a cumulative 20 per cent tariff in response to what the White House considers Chinese inaction over drug flows. The tariff represents an additional hike to preexisting levies on thousands of Chinese goods.</p>.Trump imposes 25% tariffs on Canada, Mexico sparking new fears of trade war.<p>The US has argued that China supplies chemicals used in fentanyl production. China has denied any wrongdoing.</p>.<p>Beijing will impose an additional 15 per cent tariff on US chicken, wheat, corn and cotton and an extra 10 per cent levy on US soybeans, sorghum, pork, beef, aquatic products, fruits and vegetables and dairy imports from March 10, the finance ministry announced in a statement.</p>.<p>"The US's unilateral tariffs measures seriously violate World Trade Organization rules and undermine the basis for economic and trade cooperation between China and the US," China's commerce ministry said in a separate statement.</p>.<p>"China will firmly safeguard its legitimate rights and interests," the statement added.</p>