USDA: Tariffs proposed by China would hit $16.5B in U.S. ag exports

Chinese officials responded quickly Wednesday to the Trump administration's proposed 25% tariffs on $50 billion in Chinese imports by announcing higher tariffs on 106 more U.S. commodities, including soybeans. The new reciprocal tariffs will be on products including soybeans, automobiles and chemical products, worth a total of $50 billion. Soybeans are at the top of the list. The Chinese Ministry of Commerce did not indicate when the tariffs would take effect. If the tariffs do go into effect, the tariffs on soybeans would go from 3% to 28%, according to the USDA Foreign Agricultural Service. The new battles over trade seem to dial back decades of work by commodity groups to build demand.