China responds to Trump's tariffs: Imposes 15% tariff on imported goods from the US

The US-China trade war has heated up again, with China announcing a 15% tariff on imports of wheat, corn, cotton and chicken from the United States. At the same time, it will impose an additional 10% tax on sorghum, soybeans, pork, beef, seafood, fruits and vegetables etc., expected to take effect from March 10.

This move comes after US President Trump announced that he would raise tariffs on imported goods from China to 20%. In addition, Trump also confirmed that he would impose a 25% tariff on goods coming from Mexico and Canada.

These tax increases have triggered risk aversion in the market affecting both stock and cryptocurrency markets. As of press time, Bitcoin (BTC) is priced at approximately $84,200 USD which is down by about 2% compared to the previous day. (CoinDesk)