China has retaliated against President Donald Trump’s tariffs by implementing some of its own, renewing a trade war between the world’s top two economies.
The measures, announced by China’s Finance Ministry, levy a 15 per cent duty on certain types of coal and liquefied natural gas and a 10 per cent tariff on crude oil, agricultural machinery, large-displacement cars and pickup trucks.
The country has separately imposed export controls on several elements critical to the production of modern high-tech products. Many of the impacted minerals are essential to US economic or national security and have supply chains vulnerable to disruption.
China’s Commerce Ministry placed two American companies on an unreliable entities list, including the parent company of popular fashion brands Calvin Klein and Tommy Hilfiger, barring the firms from engaging in China-related import or export activities and from making new investments in the country.
Beijing will further probe Google for alleged anti-trust violations, according to a statement from the State Administration for Market Regulation, though the specifics of the probe remain unclear.
The tariffs would go into effect next Monday, but were announced the same day Trump implemented his 10 per cent tariffs on all Chinese imports to the