China’s tit-for-tat import taxes on some American goods are set to come into effect on Monday as the trade war between the world’s two biggest economies escalates and US President Donald Trump threatens to hit more countries with tariffs.
Beijing announced the plan on 4 February, minutes after new US levies of 10% on all Chinese products came into effect.
On Friday, Trump said he was planning “reciprocal tariffs” on other nations in the coming days as he aims to reshape the US’ global trade relationships.
The president did not say which countries could be targeted but suggested it would a broad effort that may also help solve US budget problems.
From 10 February, China will charge a 15% border tax on imports of US coal and liquefied natural gas products. There is also a 10% tariff on American crude oil, agricultural machinery and large-engine cars.
Last week, Chinese authorities launched an anti-monopoly probe into technology giant Google, while PVH, the US owner of designer brands Calvin Klein and Tommy Hilfiger, was added to Beijing’s so-called “unreliable entity” list.
China has also imposed export controls on 25 rare metals, some of which are key components for many electrical products and military equipment.
Credit: bbc.com
