In a move reflecting rising trade tensions, China has announced an impending series of tariffs on US energy imports, including coal and liquid natural gas, starting Monday. This action comes as a direct retaliation to President Donald Trump's recent imposition of a 10% tariff on all Chinese goods. Under the new measures, coal and LNG imports from the US will be met with a 15% tariff, while crude oil, agricultural machinery, and various truck models will face a 10% tax.
China Hits Back: New Tariffs Target US Coal and Gas Amid Trade Tensions
China Hits Back: New Tariffs Target US Coal and Gas Amid Trade Tensions
In a sharp response to US tariffs, China imposes new taxes on American energy imports, escalating the ongoing trade conflict.
China has reacted to Trump’s tariffs by lodging a complaint with the World Trade Organization, claiming that the US is violating international trade protocols. The Trump administration defends the tariffs as a necessary means to address trade deficits and to combat the flow of fentanyl, an opioid that President Trump attributes to China. However, Chinese officials dismiss claims of responsibility for America’s opioid crisis, arguing that it stems from domestic issues.
Alongside these tariffs, China has expanded its list of "unreliable entities," taking action against several US companies, including PHV Corp (the parent company of Calvin Klein and Tommy Hilfiger) and biotech firm Illumina. The commerce ministry's accusations against these firms include claims of imposing "discriminatory measures against Chinese enterprises." Each entity on this list could face severe sanctions, including hefty fines and revocation of employee work visas.
In an additional strategic response, Beijing plans to restrict exports of 25 essential minerals crucial for various industries, including aerospace and renewable energy, highlighting the interconnectedness of global supply chains. Notably, minerals such as tungsten, tellurium, and molybdenum are key components in advanced technology manufacturing.
Meanwhile, the trade conflict extends to US neighbors as Trump has imposed a 30-day suspension on planned tariffs against Canada and Mexico, which together account for a significant portion of US imports. Trump’s negotiations with these countries have sought agreements on border security and an assertive approach to combating fentanyl trafficking.
The looming uncertainty over ongoing tariffs raises concerns among businesses, who may hesitate to invest or hire until clearer trade policies emerge. As the US-China trade war enters a new phase with these measures, the global economic landscape remains poised for further volatility.
Alongside these tariffs, China has expanded its list of "unreliable entities," taking action against several US companies, including PHV Corp (the parent company of Calvin Klein and Tommy Hilfiger) and biotech firm Illumina. The commerce ministry's accusations against these firms include claims of imposing "discriminatory measures against Chinese enterprises." Each entity on this list could face severe sanctions, including hefty fines and revocation of employee work visas.
In an additional strategic response, Beijing plans to restrict exports of 25 essential minerals crucial for various industries, including aerospace and renewable energy, highlighting the interconnectedness of global supply chains. Notably, minerals such as tungsten, tellurium, and molybdenum are key components in advanced technology manufacturing.
Meanwhile, the trade conflict extends to US neighbors as Trump has imposed a 30-day suspension on planned tariffs against Canada and Mexico, which together account for a significant portion of US imports. Trump’s negotiations with these countries have sought agreements on border security and an assertive approach to combating fentanyl trafficking.
The looming uncertainty over ongoing tariffs raises concerns among businesses, who may hesitate to invest or hire until clearer trade policies emerge. As the US-China trade war enters a new phase with these measures, the global economic landscape remains poised for further volatility.
