China has announced that it is imposing tariffs on a number of US products, while an antitrust investigation into Google has been announced.
China announced on Tuesday that it was imposing tariffs on a number of US products, while also launching an antitrust investigation into US company Google. The announcement came on the same day that the across-the-board 10% tariffs on Chinese products imposed by US President Donald Trump were due to come into effect.
China's Ministry of Commerce (MOFCOM) said it will impose a 15 % duty on coal and liquefied natural gas (LNG) products, as well as a 10 % duty on crude oil, agricultural equipment and large volume automobiles.
"Unilateral tariff increases by the US seriously violate World Trade Organization rules," the ministry said in a statement. "Not only does it not help solve its own problems, it also harms normal economic and trade cooperation between China and the US."
The 10 percent tariff that President Donald Trump ordered on China went into effect on Tuesday, although Trump said he plans to hold talks with Chinese President Xi Jinping in the coming days. In a separate statement, the country's State Administration for Market Regulation said it was investigating Google over suspected violations of antitrust laws.
China's move came just hours after Trump agreed to suspend tariffs he had threatened Mexico and Canada with for 30 days after both countries agreed to take measures to strengthen their border security and crack down on drug trafficking. He announced trade measures against all three countries over the weekend.
China on Sunday reiterated its intention to take "necessary countermeasures to defend its legitimate rights and interests" following President Trump's decision to impose 10% tariffs on China for allegedly doing too little to stop the production of chemical precursors for fentanyl.
The countermeasures adopted by China are due to come into force on 10 February.
euronews/ gnews - RoZ
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