China has imposed retaliatory tariffs on U.S. imports following President Trump’s decision to implement tariffs on Chinese goods, according to state media outlet Xinhua.
Beijing’s measures, effective Tuesday, include a 15% tariff on U.S. coal and liquefied natural gas, as well as a 10% tariff on crude oil, agricultural machinery, and large-displacement automobiles. This follows the U.S. imposing a 10% tariff on Chinese imports, citing intellectual property theft and forced technology transfers.
The White House framed the tariffs as leverage for a broader economic agreement with China. Meanwhile, similar tariffs on Mexico and Canada were paused after agreements on border security measures.
Economists warn that tariffs often lead to higher consumer costs, as businesses pass the expenses onto buyers. The escalation between the U.S. and China signals continued trade tensions between the world’s two largest economies.
Discover more from News Facts Network
Subscribe to get the latest posts sent to your email.
