Chinese Government Announces Counter-Tariffs On U.S. Goods
The American government has levied tariffs on China for years, but President Donald Trump’s recent announcement of an additional 10 percent tariff on all Chinese imports has motivated the country to retaliate .
The American government has levied tariffs on China for years, but President Donald Trump’s recent announcement of an additional 10 percent tariff on all Chinese imports has motivated the country to retaliate.
The Chinese government said it would impose tariffs on American imports and noted that it could put some companies under sanctions, including Google. Viewed as being less severe than expected, China’s move is designed to push for negotiations rather than start an all-out trade war between the two massive economies.
China will enact 15 percent tariffs on coal and liquified natural gas from the U.S. and slap a 10 percent tariff on farm equipment, crude oil, some trucks, and large-displacement sedans shipped from the United States. It also announced the start of an anti-monopoly investigation into Google’s practices and said that PVH Corp, which owns Calvin Klein and others, was being considered for sanctions.
This is Trump’s second round of Chinese tariffs, as he kicked off trade tensions in 2018 with tariffs on imports from the country. China responded, causing a back-and-forth escalation. Experts say the Chinese government is much better prepared for Trump this time around, having planned ahead for their measured response.
[Images: Munduuk, asharkyu via Shutterstock; Polestar]
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