China Hits U.S. With Tariff Countermeasures

A rundown of the news making headlines in and around China:

Tariff counter: China hit back at the U.S.’ 10% tariff hike that took effect Tuesday with a package of countermeasures. Among these, Beijing from March 10 will levy an extra 15% duty on chicken, wheat, corn and cotton, and an additional 10% on sorghum, soybeans, pork, beef, aquatic products, fruits, vegetables and dairy products. China also plans to sue the U.S. at the WTO over the tariff hike, and has added 15 American companies to its export control list and 10 U.S. defense firms to its unreliable entity list. The escalation by Washington come a month after U.S. President Donald Trump introduced a separate 10% tariff hike. Trump had indicated last week that the latest increase would not be effective until April 2. The much-anticipated additional 25% duties on Canadian and Mexican imports also took effect Tuesday.