China reciprocates with tariffs on US goods after Trump’s attendance enters into force
On Tuesday, China fascinated the importance of US fast response to new American duties to Chinese goods, restoring a trade war between the world’s most important economies, even when President Donald Trump offered Reprites Canada and Mexico.
An additional 10 percent of tariffs in all Chinese imports came into force on 12.01 ET after Trump repeatedly warned Beijing that he did not do enough to stop the flow of illegal drugs in the United States.
Within a few minutes, the Chinese Ministry of Finance said it would impose a 15 percent payment for US coal and LNG (liquefied natural gas) and 10 percent for raw oil, agricultural equipment and some cars. The new tariffs on US exports will begin on February 10, the Ministry said.
China also announced that Google’s Antimonopol investigation began, while including PVH CORP, Holding Companies for Stamps, including Calvin Klein, and the American biotechnology company Illumin on its “unreliable entity list”.
Separately, the Chinese Ministry of Trade and its Customs Administration said they were imposing export control of Volfram, Tellurium, Molybdenum, Bismuth and Indium “protecting the interests of national security”.
China controls much of the world’s supply so rare minerals of the country that are critical for the transition of pure energy.
No return
Trump suspended a threat of 25 percent of tariffs to Mexico and Canada on Monday at the last minute, agreeing to a 30-day break in exchange for concessions on the border and implementation of crime with two countries.
But there was no such return for China, and a white house spokesman said Trump would not talk to Chinese President Xi Jinping until later in the week.
During his first term in 2018, Trump launched a brutal two-year trade war with China because of his massive American trade excess, with Tit-For-Tat Tariffs on hundreds of billions of dollars of goods from global supply chains and harming the world economy.
While Canada and Mexico struggled to give up on the US tariff, EU members are organized by President Donald Trump who will impose tariffs there.
“The trade war is at an early stage, so the likelihood of further tariff is high,” Oxford Economics said in a note because it reduced its forecast economic growth in China.
Trump warned that he could further increase the tariffs to China unless Beijing had undergone the flow of fental, a deadly opioid, to the United States.
China to challenge tariffs on wto -u
“China we hope to stop sending us fentanil, and if not, the tariffs will become significantly more,” he said on Monday.
China called the problem of Fentanil America and said she would challenge the tariffs at the World Trade Organization and take other countermeasures, but also left the door open to talk.
Now it is a relatively small source of raw oil oil oil, which makes up 1.7 percent of its imports last year, worth about $ 6 billion.
In 2019, Beijing slapped the criminal tariffs on the US LNG, revenge to increase Tariff Washington to Chinese goods. The role is now higher, and China has introduced 4.16 million tons of US LNG $ 2.41 billion in 2024 in 2024, which is almost twice twice in 2018.
Hong Kong shares compared gains after China retaliated, while the dollar strengthened Chinese Juan Pao, pulling the Australian dollar lower.
“Unlike Canada and Mexico, it is obviously harder that the US and China agree on what Trump requires economically and political. Previous market optimism on a rapid agreement still looks uncertain,” said Gary NG, a senior economist in Natixis in Hong Kong .
“Even if the two countries can agree on some problems, it is possible to see tariffs used as a repeating tool, which can be a key source of market volatility this year.”
The arrangements are affected
Ottawa and Mexico City has been relieved after Prime Minister Justin Trudeau and Mexican President Claudia Sheinbaum said they agreed to reinforce the efforts in implementing the border in response to Trump’s request to break the immigration and drug smuggling. This would pause 25 percent of tariffs due to the entry into force on Tuesday for 30 days.
Canada agreed to arrange new technology and staff along its borders with the United States and initiate efforts to cooperate in the fight against organized crime, smuggling of fental and money laundering.
Mexico agreed that he would strengthen his northern border with 10,000 members of the National Guard to stop the flow of illegal migration and drugs.
Trump proposed the European Union on Sunday, 27 countries will be his next target, but he did not say when. Trump hinted that Britain, which left the EU 2020, could be spared the tariffs.
