Business

China Announces Retaliatory Measures Against US Tariffs

Published on Feb 5, 2025
Image Credit: Kaboompics.com

China has unveiled a series of countermeasures in response to US President Donald Trump’s executive order imposing a 10 percent tariff on Chinese imports. These measures include retaliatory tariffs, new export controls, and a formal dispute filing with the World Trade Organization (WTO).

Effective February 10, China will impose additional tariffs on select US goods, including a 15 percent duty on coal and liquefied natural gas, and a 10 percent levy on crude oil, agricultural machinery, large-displacement vehicles, and pickup trucks, authorities announced yesterday.

Simultaneously, China introduced new export controls on five critical minerals—tungsten, tellurium, bismuth, molybdenum, and indium—further tightening global supply chains. Additionally, the Ministry of Commerce placed PVH, the US-based parent company of Calvin Klein, and California-based biotechnology firm Illumina on its unreliable entity list.

China has also initiated a formal complaint against the US tariffs under the WTO's dispute settlement mechanism, escalating tensions in the ongoing trade conflict.

Tags

Comments