China has announced new tariffs on U.S. goods, set to take effect on February 10, in response to the 10% tariff hike imposed by U.S. President Donald Trump on Chinese imports. This move signals a renewed trade war between the world’s two largest economies, reminiscent of Trump’s first term (2017-2021).
The Chinese Ministry of Finance confirmed that 15% tariffs will be applied to U.S. coal and liquefied natural gas (LNG), while 10% duties will target crude oil, agricultural equipment, and certain vehicles. Additionally, China has launched an antitrust probe into Google, a subsidiary of Alphabet, and is considering sanctions on PVH (parent company of Calvin Klein) and biotech firm Illumina.
Further escalating tensions, China’s Ministry of Commerce announced export restrictions on rare earth metals essential for electronics, military equipment, and solar panels. The tariffs may also impact the Cybertruck, Tesla’s niche electric vehicle promoted in China, though the company has not commented.
These developments mark a significant escalation in U.S.-China trade disputes, raising concerns over their impact on global markets.
