China hits back at Trump with new tariff on U.S. products

China retaliated immediately on Tuesday as a 10% U.S. tariff on Chinese goods went into effect, announcing its own levies of 10% to 15% on some U.S. products.

HONG KONG — China retaliated immediately Tuesday as a 10% U.S. tariff on all Chinese goods went into effect, announcing a series of measures including its own levies of 10% to 15% on some U.S. products.

Starting Feb. 10, China will impose an additional tariff of 15% on coal and liquefied natural gas and a 10% tariff on crude oil, agricultural machinery, large-displacement automobiles and pickup trucks, the government said.

The Chinese announcement came minutes after the U.S. tariff took effect at 12:01 a.m. ET, the only one to go ahead after President Donald Trump paused 25% tariffs he had announced on goods from Canada and Mexico.

The failure to forestall tit-for-tat tariffs with China raises the risk of a spiraling trade war between the world’s two biggest economies.

“This unilateral tariff hike by the U.S. side seriously violates World Trade Organization rules, does nothing to solve its own problems, and undermines normal China–U.S. economic and trade cooperation,” the Customs Tariff Commission of the State Council, China’s Cabinet, said in a statement.

https://www.nbcnews.com/news/world/china-hits-back-10-us-tariff-levies-us-products-rcna190548


Post ID: 4f69d20c-bd1f-49e5-836d-280d5a70e555
Rating: 5
Created: 2 months ago
Your ad can be here
Create Post

Similar classified ads


News's other ads