February 4, 2025
China has reacted swiftly imposed tariffs on U.S. imports in response to new U.S. duties on Chinese goods, awakening a trade war between the world’s two largest economies as President Donald Trump seeks to penalize China for not halting the flow of illicit drugs.
The Ministry of Finance in Beijing announced on Tuesday that China world introduce tariffs of 15 per cent on imports of liquefied natural gas (LNG) products and coal from the United States in response to US tariffs.
Similarly, a 10 per cent tariff will also be applied to oil and agricultural machinery imported from the U.S. in measures set to come into force on February 10. In addition, Beijing announced an antitrust investigation into U.S. technology giant Google.
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Meanwhile, U.S tariffs of 10 per cent on all Chinese imports were due to take effect shortly after midnight on Tuesday Washington time (0500 GMT), after U.S. President Donald Trump ordered the measures on Saturday.
U.S tariffs on goods from Canada and Mexico, also announced by Trump on Saturday, were suspended for a month shortly before they were due to kick in following agreements between the U.S. and its two neighbors. There was initially no such agreement with China.
Trump, on Monday said that talks with the Chinese side would take place within 24 hours.
Trump won November’s presidential election promising to slap high tariffs on foreign goods. He previously implemented a number of duties during his first term tenure from 20
