China's commerce ministry said on Monday that it will use funds collected from tariffs charged on imports from the United States to help ease the impact of US tradeactions on Chinese companies and their employees.
A CBS News poll from December of 2016, the month before Trump took office, found that 57 percent of Americans said they thought US trade practices with other countries resulted in fewer jobs in the U.S. The American president told reporters that tariffs on an additional $16 billion in Chinese goods are set to take effect in two weeks.
The USDA didn't immediately reply to an email seeking comment on the shipment. He then announced 25% tariffs on $50 billion to $60 billion in Chinese exports to the USA, including aerospace, information and communication technology, and machinery.
However, the absence of an official confirmation earlier Friday afternoon had caused confusion in the markets, leaving customs at major ports in limbo.
Trump has levied steep tariffs on key USA allies, including the European Union, Canada, and Mexico, citing unfair trade practices and national security issues as the need for the hikes.
Customs at the port of Dalian, where the ship Peak Pegasus was now anchored carrying 70,000 tonnes of US soybeans, have updated their tariffs for the USA goods on Beijing's list to the higher levels, according to a soymeal buyer briefed by a customs official at the port.