China has announced new tariffs on U.S. products in retaliation against President Donald Trump's recent tariffs on Chinese goods. This move marks an escalation in the ongoing trade tensions between the two countries. The Chinese government has also launched an anti-trust investigation into Google and other trade measures, further intensifying the economic standoff.
The new tariffs target a range of U.S. imports, including coal, liquefied natural gas, and crude oil. The levies, which take effect on February 10, will also target cars, pick-up trucks, and agricultural machinery. This development follows President Trump's imposition of tariffs on Chinese products, as well as on imports from Canada and Mexico, as part of his administration's broader trade policy. However, Trump paused the tariffs on Mexico and Canada for 30 days after reaching agreements on border security with both nations.
As part of the deal to delay the tariffs, Mexico agreed to send 10,000 troops to the southern border, while Canada agreed to help combat fentanyl smuggling at the northern border.
The White House has not yet commented on China's latest actions.