Since Donald Trump took oath once again as the President of the United States, he has imposed tariffs on goods from other countries like Canada, Mexico, and most significantly, China. Now, the dragon has introduced retaliatory tariffs in response. China has announced tariffs on US coal, LNG, crude oil, farm equipment, and large-displacement cars.
15 per cent tariffs will be imposed on US coal and LNG, and an additional 10 per cent tariff will be applied on crude oil, farm equipment and large-displacement cars. Earlier, Trump administration had announced 10 percent tariff on imports from China.
Apart from this, China has also launched an investigation into US tech giant Google over alleged anti-trust violations as the trade tensions between the two giants continue to simmer.
Notably, Donald Trump had said that the tariff on Chinese goods may increase if they respond to US tariffs. The proposal to increase tariffs had that provision built in. Now it will be interesting to see if Trump administration further increased the levies on Chinese goods.
