China Responds to U.S. Tariffs: 15% Duties on Coal and LNG

The Chinese Ministry of Finance has announced the imposition of 15% tariffs on imports of coal and liquefied natural gas (LNG) from the United States. This is a retaliatory measure against Washington’s introduction of 10% tariffs on Chinese goods. The new regulations also include increased duties on oil imports and agricultural machinery.

Escalation of Trade Tensions

According to Beijing’s statement, the 15% tariff on coal and LNG will take effect on February 10. Additionally, China will impose a 10% tariff on imports of crude oil, agricultural machinery, large motor vehicles, and pickup trucks.

This move is a response to the U.S. administration’s decision on February 1 to introduce new tariffs on Chinese products. Chinese authorities emphasize that such actions violate the principles of the World Trade Organization (WTO) and harm global economic relations.

Export Controls on Raw Materials and Investigation into Google

In reaction to U.S. measures, Beijing has also announced export controls on strategic raw materials, including tungsten, tellurium, ruthenium, and molybdenum. The Chinese Ministry of Commerce and the General Administration of Customs justified these steps as necessary to protect national security interests.

Additionally, the Chinese State Administration for Market Regulation (SAMR) has launched an antitrust investigation against Google. Authorities suspect the American corporation of violating competition regulations. Google services such as Gmail, YouTube, and Google Maps remain inaccessible in mainland China.

U.S. Suspends Tariffs on Canada and Mexico

In contrast to its relations with China, the administration of Donald Trump has suspended for 30 days the planned 25% tariffs on goods from Canada and Mexico. The decision was made after discussions between the U.S. president, Canadian Prime Minister Justin Trudeau, and Mexican President Claudia Sheinbaum.

The White House argues that these three countries are responsible for the influx of fentanyl into the U.S., posing a public health threat. American authorities accuse Beijing of supplying chemical precursors used by drug cartels.

Trump Threatens Further Tariff Increases

President Trump has announced that he will soon contact Xi Jinping regarding a potential trade agreement. However, he warned that if an agreement is not reached, the U.S. may raise tariffs on Chinese products even further.

“This was just the first shot. If we fail to reach an agreement with China, the tariffs will be very, very high,” Trump emphasized.

The latest escalation of the trade war between the U.S. and China could lead to further tensions in global markets and impact the prices of energy resources and industrial goods.