Sun, 09 Feb 2025

Sun, 09 Feb 2025 China's tit-for-tat tariffs on US take effect

Beijing's move comes after President Donald Trump imposed a 10% levy on goods imported from China.

* China imposes tariffs on US goods, including: + 15% border tax on US coal and liquefied natural gas products + 10% tariff on American crude oil + 10% tariff on agricultural machinery + 10% tariff on large-engine cars
* Trump threatens to impose 25% tariffs on steel and aluminium imports into the US, with a full announcement expected on Monday
* China launches an anti-monopoly probe into Google and adds PVH (owner of Calvin Klein and Tommy Hilfiger) to its "unreliable entity" list
* China imposes export controls on 25 rare metals, including key components for electrical products and military equipment
* Trump reaches deals with Canada and Mexico to avoid 25% tariffs on goods from these countries, but does not mention exempting other countries from new tariffs
* EU import taxes remain unresolved, despite efforts by the Biden administration
* China files a complaint with the WTO accusing the US of making "unfounded and false allegations" about its role in fentanyl trade, and claims US tariffs are "discriminatory and protectionist"
* Trump suspends tariffs on small packages from China due to technical issues.
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