NNA - China imposed tariffs of up to 15 percent on a raft of U.S. farm products on Tuesday and blacklisted more than 20 U.S. companies, marking a major escalation in a brewing trade war between the world’s two largest economies.

The move targets some of the United States’ top exports to China, including soybeans, meat and grains.

It was retaliation for President Donald Trump’s announcement that he would increase tariffs on Chinese products by an additional 10 percentage points from Tuesday, bringing the total tax on some Chinese products to 45 percent.

Trump said he did not expect Beijing to “retaliate too much,” but only hours later, China’s State Council announced a 15 percent tax on U.S. goods including chicken, wheat and corn. Other American products — including soybeans, sorghum, beef, pork, aquatic and dairy products, and fruits and vegetables — will be subject to a 10 percent levy.

Fifteen U.S. companies, including Leidos and General Dynamics Land Systems, were placed on a list that bars them from importing goods that can be used for military purposes. Another 10 American companies were barred from trading with or investing in China.--agencies

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