Tue, 04 Feb 2025

US coal and gas among targets of China's retaliatory tariffs

Beijing is also adding new companies to its blacklist and says it will investigate Google.

* China has announced retaliatory tariffs against the US, with a 15% tax on coal and LNG imports, and a 10% tariff on crude oil, agricultural machinery, pickup trucks, and large-engine cars.
* The tariffs are expected to come into effect next Monday.
* China has complained to the WTO, accusing the US of breaking international rules.
* President Trump says the tariffs are aimed at addressing trade deficits and curbing fentanyl trafficking from China.
* China has added PHV Corp (owner of Calvin Klein and Tommy Hilfiger) and Illumina to its "unreliable entity" list, which may face sanctions such as fines and revoked work visas.
* Beijing plans to restrict the export of 25 critical minerals, including tungsten, tellurium, and molybdenum.
* A Chinese watchdog has launched an investigation into Google for alleged antitrust violations.
* The US and China have imposed tariffs on hundreds of billions of dollars' worth of each other's goods in the ongoing trade war.
* Trump has suspended 25% tariffs on Mexico and Canada, which were set to take effect in response to concerns about fentanyl trafficking and border security.
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