China’s Finance Ministry announced the imposition of 15% tariffs on coal and liquefied natural gas imports from the US, as well as 10% duties on crude oil, agricultural equipment, and certain cars.
These tariffs are set to take effect on February 10.
This move comes in response to the enforcement of a 10% US tariff on Chinese exports, which took effect on Tuesday.
President Trump had signed an executive order imposing the tariff, accusing China of failing to address the flow of illicit drugs into the US.
The Chinese Finance Ministry criticised the US for its unilateral tariff actions, accusing the US of violating World Trade Organization (WTO) rules.
“The US’s unilateral imposition of tariffs seriously violates the rules of the World Trade Organization,” China’s statement said.
“It is not only unhelpful in solving its own problems but also undermines the normal economic and trade cooperation between China and the US.”
Unlike Mexico and Canada, which managed to negotiate a 30-day reprieve from 25% US tariffs after reaching separate agreements with President Donald Trump, China’s response has been immediate and retaliatory.
China probes Google
In addition to the new tariffs, China also announced an investigation into Google for alleged antitrust violations, as per a statement from the State Administration for Market Regulation.
China’s State Administration for Market Regulation said it will look into Google over alleged anti-monopoly practices.
According to an official statement, the probe will examine potential violations of China’s anti-monopoly law.
Trump pauses tariffs on Canada and Mexico
Both Canadian Prime Minister Justin Trudeau and Mexican President Claudia Sheinbaum expressed relief after reaching an agreement to bolster border enforcement in response to President Trump’s demand to address immigration and drug smuggling issues.
This agreement resulted in the postponement of 25% tariffs scheduled to take effect on Tuesday for 30 days.
Canada committed to deploying new technology and personnel along its border with the US and launching joint initiatives to combat organized crime, fentanyl smuggling, and money laundering.
Meanwhile, Mexico agreed to station 10,000 National Guard members at its northern border to curb illegal migration and drug trafficking.
Trump expressed satisfaction with the outcome, stating on social media, “As President, it is my responsibility to ensure the safety of ALL Americans, and I am doing just that. I am very pleased with this initial outcome.”
The post China slaps 15% tariff on select US goods in response to Trump appeared first on Invezz
