China slaps retaliatory tariffs on U.S. goods as trade war heats up

Starting on February 10, China will impose levies of 15% on U.S. coal and LNG and 10% on crude oil, farm equipment, and some autos.

Tehran, Karafarinane Eghtesad – China has slapped a range of new retaliatory tariffs on the United States after President Donald Trump imposed new duties on Chinese goods.

Chinese Finance Ministry announced early on Tuesday that it would impose levies of 15% for U.S. coal and LNG and 10% for crude oil, farm equipment and some autos starting on February 10.

It came minutes after the 10% tariffs on all Chinese imports into the U.S. went into force, renewing a trade war between the world’s top two economic powers.

“The unilateral imposition of tariffs by the U.S. seriously violates the rules of the World Trade Organization,” China’s Finance Ministry said in a statement announcing the tariffs.

“It is not only unhelpful in solving its own problems, but also damages the normal economic and trade cooperation between China and the U.S.”

China also announced that it was starting an anti-monopoly investigation into Google, while adding the U.S. companies PVH Group and Illumina Inc. to its unreliable entity list.

Separately, China’s Commerce Ministry and its Customs Administration said on Tuesday that the country was imposing export controls on a raft of critical minerals, including tungsten, tellurium, ruthenium, molybdenum and ruthenium-related items, to “safeguard national security interests.”

Trump is expected to talk with Chinese President Xi Jinping later in the week.

The U.S. president had imposed tariffs on Canada and Mexico but struck last-minute deals with the leaders of the two neighboring countries to delay them.

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