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Tit-for-tat tariffs retaliation from China on American energy, autos
The New Indian Express Kottayam
|February 05, 2025
Trump, who earlier spoke to Trudeau, Sheinbaum, will call Xi Jinping
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CHINA said on Tuesday it would impose tariffs on imports of US energy, vehicles and equipment, firing a return salvo in an escalating trade war between the world's two biggest economies.
US President Donald Trump on Saturday announced sweeping measures against major trade partners Canada and Mexico, with goods from China hit with an additional 10% tariff on top of the duties they already endure.
Minutes after they came into effect, Beijing unveiled levies of 15% on imports of coal and liquefied natural gas from the United States, while crude oil, agricultural machinery, big-engined vehicles, and pickup trucks face 10 percent duties.
China is a major market for US energy exports and, according to Beijing customs data, imports of oil, coal and LNG totalled more than $7 billion last year. But that is dwarfed by China's imports from more friendly powers such as Russia, from which it purchased $94 billion-worth last year.
This story is from the February 05, 2025 edition of The New Indian Express Kottayam.
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