Budapest Post

Cum Deo pro Patria et Libertate
Budapest, Europe and world news

China Retaliates with Tariffs and Investigations Following New U.S. Duties

Beijing imposes new tariffs, export controls, and probes on U.S. firms as trade tensions escalate.
China on Tuesday imposed new tariffs on U.S. imports and launched investigations against American firms in response to the latest round of U.S. duties on Chinese goods.

Beijing’s Finance Ministry announced levies of 15% on U.S. coal and liquefied natural gas and 10% on crude oil, agricultural equipment, and autos, effective February 10.

China’s State Administration of Market Regulation also initiated an anti-monopoly investigation into Google, while the Commerce Ministry added PVH Corp, parent company of Calvin Klein, and biotechnology firm Illumina to its 'unreliable entities list.' Beijing accuses the firms of discriminatory practices against Chinese companies.

In addition, China implemented export controls on rare earth minerals such as tungsten, tellurium, and molybdenum, critical for various technologies including clean energy.

These actions come as China holds significant global influence over rare earth supplies.

The trade dispute intensifies as President Donald Trump maintains pressure on Beijing over trade and the flow of illicit drugs like fentanyl.

Trump warned that additional tariffs could follow if China does not address the fentanyl crisis.

While suspending tariff hikes on Mexico and Canada, Trump offered no such reprieve to China.

Canada and Mexico agreed to bolster border security and cooperation to prevent drug trafficking and illegal migration, temporarily pausing 25% U.S. tariffs on their exports for 30 days.

The ongoing trade dispute has disrupted global markets.

Stocks in Hong Kong fell after China’s response, while the Chinese yuan depreciated against the U.S. dollar.

Economists warn that the dispute could cause continued volatility.

Meanwhile, European leaders at a summit in Brussels signaled their readiness to negotiate or retaliate if the U.S. imposes tariffs on EU goods.

Trump has hinted that Britain may be spared from future duties due to its post-Brexit status.

The escalating measures underscore the deepening economic tensions between the U.S. and China, with global supply chains and energy markets at risk of further disruption.
AI Disclaimer: An advanced artificial intelligence (AI) system generated the content of this page on its own. This innovative technology conducts extensive research from a variety of reliable sources, performs rigorous fact-checking and verification, cleans up and balances biased or manipulated content, and presents a minimal factual summary that is just enough yet essential for you to function as an informed and educated citizen. Please keep in mind, however, that this system is an evolving technology, and as a result, the article may contain accidental inaccuracies or errors. We urge you to help us improve our site by reporting any inaccuracies you find using the "Contact Us" link at the bottom of this page. Your helpful feedback helps us improve our system and deliver more precise content. When you find an article of interest here, please look for the full and extensive coverage of this topic in traditional news sources, as they are written by professional journalists that we try to support, not replace. We appreciate your understanding and assistance.
Newsletter

Related Articles

0:00
0:00
Close
USAID Uncovered: American Taxpayer Funds Leveraged to Erode Democracy in Europe Until Trump Put a Stop to It.
JD Vance and Scholz Did Not Come Together at the Munich Security Conference.
EU Official Participates in Discussions in Washington Amid Trade Strains
Qatar Contemplates Reducing French Investments Due to PSG Chief Investigation
Germany's Green Agenda Encounters Ambiguity Before Elections
Trump Did Not Notify Germany's Scholz About His Ukraine Peace Proposal.
Munich Car Attack Escalates Migration Discourse Before German Elections
NATO Allies Split on Trump's Proposal for 5% Defense Spending Increase
European Parliament Advocates for Encrypted Messaging to Ensure Secure Communications
Trump's Defense Spending Goal Creates Division Among NATO Partners
French Prime Minister Bayrou Navigates a Challenging Path Amid Budget Preservation and Immigration Discourse
Steering Through the Updated Hierarchy at the European Commission
Parliamentarian Calls for Preservation of AI Liability Directive
Mark Rutte Calls on NATO Allies to Increase Defence Expenditures
Dresden Marks the 80th Anniversary of the World War II Bombing.
Global Community Pledges to Aid Syria's Political Transition
EU Allocates €200 Billion for AI Investments, Introduces €20 Billion Fund for Gigafactories
EU Recognizes Its Inability to Close the USAID Funding Shortfall Due to Stalled US Aid
Commission President von der Leyen Missing from Notre Dame Reopening Due to Last-Minute Cancellation
EU Officializes Disinformation Code for Online Platforms, Omitting X
EU Fails to Fully Implement Key Cybersecurity Directives
EU Under Fire for Simplification Discussions Regarding Corporate Sustainability Reporting
Shein Encountering Further Information Request from the EU During Ongoing Investigation
European Commission Initiates Investigation into Shein as It Aims at Chinese E-Commerce Regulations
German Officials Respond to U.S. Proposal for Peace Talks with Russia
Senate Approves Robert F. Kennedy Jr. as Secretary of Health and Human Services.
Trump and Putin Engage in Discussions on Ukraine Peace Negotiations Amid Worldwide Responses
Honda and Nissan End Merger Talks
Highlights of New York Fashion Week Celebrate Iconic Comebacks and Rising Stars.
Trump Asserts BRICS 'Is Finished' in Light of Tariff Threats.
Trump's Tariffs Loom Over Major German Trade Exhibition
OpenAI Modifies Its Strategy in Response to Growing AI Competition
CPJ Report Indicates a Record High in Journalists Killed in 2024.
World Leaders Champion Ethical and Inclusive AI Governance at Paris Summit
Chinese Nationals Taken Off Flight at Kuala Lumpur International Airport
How Spain Transformed from High Unemployment to Eurozone Growth Leader
EU Promises Swift Response if New US Tariffs Are Introduced
The European Union Shifts Focus to AI Innovation Amid Global Competition (or at least this is what they claim)
Merz and Scholz Engage in Confrontation Over Migration and Economic Strategies in Pre-Election Debate
Tech Giants Boost Investment in AI Infrastructure Despite Competition
Europe Faces Growing Security Concerns and Trump's New Demands on Ukraine
Justin Bieber Sparks Concern as New Footage Raises Health Fears
European Right-Wing Leaders Celebrate Trump’s Impact on Global Politics
Germany Confronts Political Turmoil Before Sudden Election
Macron's AI Vision Encounters Obstacles in the Global Technology Race.
Reports of Pro-Russian Bots Attempting to Influence German Election Surface
'BACK TO PLASTIC!': Trump to End Bans on Plastic Straws
TikTok Sued Over Alleged Child Deaths Caused by 'Blackout Challenge'
U.S. Ally Claims Trump Has Distinct Credibility to Resolve Ukraine-Russia Dispute
At least ten fatalities confirmed in shooting at a Swedish school, authorities report.
×