China has retaliated against new US tariffs by imposing 15% duties on certain energy imports and 10% tariffs on crude oil, vehicles, and machinery. It also announced export controls on key minerals like tungsten and added two firms to its ‘unreliable entities’ list. Additionally, China launched an antitrust investigation into Google. On 2 February Donald Trump had imposed 10% tariffs on Chinese goods, part of broader trade measures also targeting Mexico and Canada. He has briefly paused tariffs on those two nations following talks. China denounced the tariffs at the World Trade Organisation, warning of economic disruption. The dispute extends beyond tariffs, touching on security and fentanyl production. While Beijing aims to avoid an escalating trade war, China’s slowing economy adds pressure. Meanwhile, Trump has indicated that he might impose tariffs on other nations.
China / USA: exchange of tariffs on imports
Written by David Fletcher 06 Feb 2025
Additional Info
- Pray: for fair trade policies which strengthen economies without escalating global conflict. (Proverbs 21:5)
- More: edition.cnn.com/2025/02/04/business/china-us-trade-retaliation-hnk-intl/index.html
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