 "China announces retaliatory measures as Trump's tariffs come into effect")
China on Tuesday announced a package of tariffs on US products in response to US President Donald Trump’s tariffs.
Minutes after Trump’s 10 per cent tariffs on Chinese imports came into effect on Tuesday, China announced 15 per cent tariff on US coal and liquified natural gas (LNG) and 10 per cent on US crude oil, farm equipment, and some autos, according to Reuters.
Chinese tariffs on US goods will come into effect on February 10.
The Chinese retaliation comes ahead of an expected telephonic conversation between Trump and Chinese leader Xi Jinping. Trump on Monday said that talks with Xi would take place “probably over the next 24 hours”. If a deal could not be made with China, “then the tariffs will be very, very substantial”, said Trump.
China also announced that it is imposing export controls on tungsten, tellurium, ruthenium, molybdenum, and ruthenium-related items to “safeguard national security interests”, according to the news agency.
In addition to tariffs, China also announced the opening of an anti-monopoly investigation into US technology giant Google. It also included Calvin Klein-maker PVH Corp and US biotech company Illumina in its “unreliable entities list”.
Shortly after winning the election, Trump announced that he would impose 25 per cent tariffs on Canada and Mexico for their failure to check the flow of fentanyl into the United States from his soil. He also announced 10 per cent tariff on China for supplying fentanyl that enters the United States from Canada and Mexico. Last week, he signed executive orders impose the tariffs he had promised.
Impact Shorts
More ShortsHowever, the Trump administration on Monday announced that a 30-day reprieve had been granted to Canada and Mexico after Trump held talks with Mexican and Canadian leaders. There was no such reprieve for China that had already been engaged in a yearslong trade conflict with the United States — the previous Joe Biden administration had imposed steep tariffs on Chinese electric vehicles (EVs), metals, renewable energy products, and imposed China-specific export controls on semiconductor technology and other hi-tech goods.
 "Russian drones over Poland: Trump’s tepid reaction a wake-up call for Nato?")
 "As Russia pushes east, Ukraine faces mounting pressure to defend its heartland")
 "Why Mossad was not on board with Israel’s strike on Hamas in Qatar")
 "Turkey: Erdogan's police arrest opposition mayor Hasan Mutlu, dozens officials in corruption probe")
 "Russian drones over Poland: Trump’s tepid reaction a wake-up call for Nato?")
 "As Russia pushes east, Ukraine faces mounting pressure to defend its heartland")
 "Why Mossad was not on board with Israel’s strike on Hamas in Qatar")
 "Turkey: Erdogan's police arrest opposition mayor Hasan Mutlu, dozens officials in corruption probe")
