China has imposed counter-tariffs on a range of US products, escalating the trade war between the two nations. The Chinese government announced a 15% tariff on coal and liquified natural gas, as well as a 10% tariff on crude oil, agricultural machinery, and large-displacement cars. This move comes in response to President Trump's imposition of a 10% tariff on Chinese imports, which was set to take effect Tuesday.
China has hit back at the US with counter-tariffs on multiple products as the trade war between both countries continues to heat up. The Chinese government said that it would implement a 15% tariff on coal and liquified natural gas products, as well as a 10% tariff on crude oil, agricultural machinery and large-displacement cars. "The US's unilateral tariff increase seriously violates the rules of the World Trade Organisation," a statement said.
“I look forward to participating in those negotiations, with President Sheinbaum, as we attempt to achieve a “deal” between our two Countries.” The US is the largest importer of goods in the world, with Mexico, China and Canada as its top three suppliers, according to the most recent Census data. The countries also represent huge export markets for the US.
TRADE WAR CHINA US TARIFFS ECONOMY
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