In a swift response to the United States imposing 10% tariffs on its goods, China has fired back with a set of retaliatory measures that could shake the global market. Just hours after the US tariffs took effect at 5 AM British time, China announced its own 10% tariffs on a range of American products, including crude oil, agricultural machinery, and larger vehicles like cars and pickup trucks.
But that’s not all—China is also introducing 15% tariffs on coal and liquefied natural gas, alongside a notable investigation into Google that raises eyebrows globally.
In a strategic move, China is implementing export controls on essential rare earth metals such as tungsten, tellurium, and molybdenum. Given that China holds a significant portion of the world’s supply of these critical materials—pivotal for the clean energy transition—this could have far-reaching implications.Although these measures won’t take effect until Monday, February 10, the tension is palpable.
President Trump has framed his actions as a necessary response to China’s failure to curb the influx of fentanyl, a dangerous synthetic opioid, into the US. He hinted that this might just be the beginning, as the White House announced plans for him to discuss the matter with President Xi Jinping. The stage is set for what could be a historic turning point in US-China relations!
