Over a month since the United States announced the imposing steel tariffs on imported steel, China has retaliated with tariffs of its own. The tariffs are about $3 billion worth of U.S. goods and apply to around 128 goods ranging from food to steel pipes. While the items tariffed make up only a small portion of total U.S. exports, the industries affected could face serious consequences. American farms, particularly soybean farmers, will be most affected by the tariffs.

From the 128 tariffed products, 90 are agricultural goods. The rural sector has faced the most economic strife in recent years because of new policies, such as the capital gains tax, designed to reshuffle income between classes. In response to China’s actions, President Donald Trump imposed an additional $100 billion tariffs on Chinese goods to, as the administration stated, fight against the Chinese tariffs.
Experts believe this is the beginning of a trade war between the two economic superpowers. The Chinese tariffs may also harm the Chinese economy by raising inflation. The Trump administration believes these tariffs would punish Chinese aerospace, developing technology, and other machinery.