China announced tariffs on U.S. energy, vehicles, and equipment in response to U.S. tariff hikes, escalating the trade war between the two countries.
President Trump imposed a 10% additional tariff on Chinese goods, including energy and vehicles, targeting Canada, Mexico, and China.
China implemented 15% tariffs on coal and LNG, and 10% tariffs on crude oil, agricultural machinery, and large vehicles, following the U.S. tariffs.
China is a significant market for U.S. energy exports, with imports of oil, coal, and LNG worth over $7 billion last year.
Beijing condemned the U.S. tariffs as a violation of World Trade Organization (WTO) rules and announced plans to file a complaint.
China launched an investigation into Google and added U.S. companies PVH Corp. and Illumina to a list of "unreliable entities."
China imposed new export controls on rare metals and chemicals used in various industrial applications.
Trump explained his tariffs as punishment for countries not addressing illegal migration and drug flows into the U.S., and he planned a call with Chinese President Xi Jinping.
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