China responds to Trump's tax increase: 15% tariff on US imports

Odaily News The US-China trade war has heated up again, with China announcing a 15% tariff on US wheat, corn, cotton and chicken, as well as an additional 10% tax on sorghum, soybeans, pork, beef, seafood, fruits and vegetables, which is expected to take effect on March 10. The move comes after US President Trump announced that tariffs on Chinese imports would be raised to 20%. In addition, Trump also confirmed that tariffs of 25% would be imposed on goods from Mexico and Canada.
The tax increase triggered risk aversion in the market, affecting the stock and cryptocurrency markets. As of press time, the price of Bitcoin (BTC) was around $84,200, down 2% from the previous day. (CoinDesk)