The Chinese government announced the tariffs last week, shortly after President Trump raised tariffs on Chinese products for the second time since he took office in January. The Chinese tariffs will include a levy of 15 percent on U.S. products like chicken, wheat and corn, as well as 10 percent on products like soybeans, pork, beef and fruit.

Chinese buyers will pay 10% or 15% taxes on imported American goods, including chicken, pork, wheat, corn and fruit — stifling demand.