China announced on Tuesday that it will impose new tariffs on certain imported goods from the United States, escalating the ongoing trade tensions between the two economic giants. 🚀
According to a notice from the Customs Tariff Commission of the State Council, a 15% tariff will be applied to U.S. coal and liquefied natural gas (LNG), while a 10% tariff will be imposed on oil, agricultural machinery, large-displacement vehicles, and pickup trucks. These measures take effect from February 10. 📅
This move comes as a response to U.S. President Donald Trump's executive order signed on Saturday, which implemented a 10% tariff hike on imports from China, effective Tuesday. 🇺🇸🔄🇨🇳
Meanwhile, Trump suspended his planned 25% tariffs on Mexico and Canada at the last minute on Monday, opting for a 30-day pause. 🌐🤝
The notice from the Chinese authorities emphasized that the U.S.'s unilateral imposition of tariffs seriously violates World Trade Organization (WTO) rules. It warned that such measures are ineffective in addressing U.S. economic concerns and instead disrupt normal trade and economic cooperation between the Chinese mainland and the United States. ⚖️📉
\"Trade wars have no winners,\" the notice declared, urging for dialogue and cooperation to resolve the disputes. 💬✌️
As the trade spat intensifies, global markets are watching closely. Young entrepreneurs and investors should stay tuned for updates, as these developments could impact international trade and economic trends. 🌍📈
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China to impose tariffs on certain imported goods from the U.S.
cgtn.com
