Official Beijing has begun imposing tariffs on some American goods in response to new tariffs from US leader Donald Trump.
Points of attention
- American coal, LNG, oil, and other goods have come under attack from China.
- Beijing has launched an antitrust investigation against Alphabet Inc. (Google) and added PVH Corp and Illumina to a list of “unreliable companies.”
- China is also imposing export controls on rare earth elements and metals.
The trade war between the US and China is gaining momentum
What is important to understand is that an additional 10% tariff on all Chinese-made goods imported into the United States went into effect on February 3.
New US President Donald Trump has complained many times that China is doing very little to block the flow of illegal drugs into the United States.
Against this background, the Chinese Ministry of Finance officially announced the introduction of tariffs of 15% on American coal and liquefied natural gas (LNG), as well as 10% on oil, agricultural equipment and some cars.
Moreover, official Beijing has ordered the launch of an antitrust investigation against Alphabet Inc. (Google).
According to journalists, PVH Corp (owner of brands including Calvin Klein) and the American biotechnology company Illumina have been added to China's list of "unreliable companies."
Separately, the Ministry of Commerce and the Customs Administration of China announced the introduction of export controls on some rare earth elements and metals, which are key to the production of high-tech devices and the development of clean energy.
