Trade War Hits Trump Heartland, With Mines, Farms as Targets
- Beijing to levy tariffs on agricultural products, energy goods
- China retaliates against earlier Trump administration duties
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China’s response to U.S. tariffs aims to hit the Trump administration right in its natural resources.
The world’s largest commodities consumer on Friday said it will levy a first round of tariffs on $34 billion worth of U.S. agriculture products, as well as automobiles, starting July 6. Another $16 billion in goods, including coal and oil, will be subject to tariffs later. The escalating dispute sent the prices of everything from soybeans to copper lower and hit the shares of U.S. coal producers while boosting the prospects for alternative suppliers like Brazil.