BUSINESS
China hits back after Trump imposes 10% tariffs
February 4, 2025 - China countered President Donald Trump’s tariffs on Chinese products with tariffs of its own on select U.S. imports, marking a significant escalation in trade tensions.
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China said it would implement a 15% tariff on coal and liquefied natural gas products as well as a 10% tariff on crude oil, agricultural machinery and large-engine cars imported from the U.S. The tariffs would take effect from February 10.
As well as the tariffs, China placed export controls on 25 types of rare metal products and added two U.S. companies – PVH Group and Illumina – to its “unrelieble entities” list.
In addition, China’s State Administration for Market Regulation said it is investigating Google on suspicion of violating antitrust laws, according to AP.