China responds to Trump's tariff increase: imposing a 15% tariff on U.S. imports

ChainCatcher news, according to CoinDesk, the China-U.S. trade war has escalated again. China announced a 15% tariff on U.S. imports of wheat, corn, cotton, and chicken, while imposing an additional 10% tax on sorghum, soybeans, pork, beef, seafood, fruits, and vegetables, expected to take effect from March 10. This move comes after U.S. President Trump announced an increase in tariffs on Chinese imports to 20%. Additionally, Trump confirmed that a 25% tariff will be imposed on goods from Mexico and Canada.

This tax increase has triggered risk aversion in the market, affecting both the stock and cryptocurrency markets. As of the time of writing, the price of Bitcoin (BTC) is approximately $84,200, down 2% from the previous day.