China strikes back at Trump in declared trade war
Photo: China fights back against Trump in a trade war (Getty Images)
Beijing announced the introduction of duties on certain types of US imports, including fuel. Export controls on many raw materials are also being introduced in response to the Trump administration's 10% tariffs on Chinese imports to the United States, according to CNN.
The new duties, announced by the Chinese Ministry of Finance, include a 15% tax on certain types of coal and liquefied natural gas and a 10% tariff on crude oil, agricultural machinery, large cars, and pickup trucks. The measures come into force on February 10.
China's Ministry of Commerce also announced a list of new export control measures covering tungsten-based materials commonly used for industrial and defense purposes, as well as tellurium-related materials that can be used to make solar cells.
The announcement came as the White House announced a wide-ranging 10% tariff on Chinese imports to the United States.
Beijing sharply criticized the duties in its statement and promised to “resolutely defend its rights” by filing a complaint with the World Trade Organization and taking “corresponding countermeasures..”
US President Donald Trump said that his administration plans to negotiate new tariffs with China. This increases the likelihood that the duties will not take effect.
In recent days, the US has announced new duties on goods from its largest trading partners, Canada and Mexico. However, these measures were postponed. Trump also threatens to impose duties on the European Union.
Read more about the trade war in RBC-Ukraine's article.
