China cuts the way of American soya, too

Earlier Wednesday, China said it would levy an additional 25 percent levy on about $50 billion of U.S. imports including soybeans, automobiles, chemicals and aircraft. The move matched the scale of proposed U.S. tariffs announced the previous day. The U.S. is allowing 60 days for public feedback and hasn’t specified when the tariffs would take effect, leaving a window open for talks – Bloomberg states.

China’s retaliation isn’t justified under international trade rules or domestic law, said an official with the U.S. Trade Representative’s office. The appropriate response by China would be for the Asian nation to change its behavior on trade and intellectual property, said the official, who spoke to reporters on condition of anonymity.