Starting with steel and aluminium, the Trump administration has imposed tariffs on Chinese exports to the US. China has responded with a variety of countermeasures.

China has imposed matching tariffs on US goods. The rates and list of goods targeted appear to be a mirror image of US actions. On March 4, the US increased tariffs on Chinese goods to 20 percent. As a retaliatory measure, China’s State Council Tariff Commission announced a round of retaliatory tariffs, effective March 10. As a result, as many as 740 tariff lines of US agricultural products are affected.

China announced that a 10-percent tariff will be applied to commodities such as sorghum, soybeans, pork, beef, aquatic products, fruits, vegetables and dairy products, while a 15-percent tariff will be imposed on items including chicken, wheat, corn and cotton.

To be sure, China is a very large importer and consumer of a variety of farm products, including soybeans, cotton and meat. For instance, as the world’s largest oilseeds importer, China imports well over 100 million tonnes of soybeans annually, mainly to feed its livestock sector.

While many believe China’s response so........

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