China has fired back with tariffs on US goods in retaliation to the latest US trade moves. The new duties, ranging from 10% to 15%, target American coal, gas, crude oil, machinery, and cars, set to hit on February 10.
The Chinese government condemned the US’s tariff hike as a violation of World Trade Organization rules, accusing Washington of disrupting vital economic cooperation between the two countries.
In another strike, China launched an investigation into Google for possible antitrust violations, escalating tensions further.
While new tariffs on Canadian and Mexican goods were also expected, President Trump agreed to delay them for 30 days after the countries took action on his concerns over border security and drug trafficking.
China also imposed export controls on critical materials used in high-tech production, and added two US companies—PVH Group and Illumina—to its “unreliable entity” list.
As the situation escalates, President Trump is expected to meet Chinese President Xi Jinping soon.
