China strikes back: New tariffs target U.S. energy imports
The Chinese Ministry of Finance has announced new tariffs on imports from the United States, including a 15% tariff on coal and liquefied natural gas (LNG). This decision is a response to earlier actions by Washington.
The Chinese Ministry of Finance announced the introduction of 15% tariffs on the import of coal and LNG from the United States. The new tariffs, which will take effect on February 10, are a response to the 10% tariffs imposed by Washington on Chinese imports.
Additionally, Beijing announced 10% tariffs on the import of crude oil, agricultural machinery, and large-engine vehicles, including pickups. This decision is a reaction to the actions of the United States on February 1, which according to the Chinese Ministry of Commerce, violate the rules of the World Trade Organization (WTO).
"The unilateral tariff increase by the United States seriously violates WTO rules. It is not only unhelpful in solving its own problems, but also undermines the normal economic and trade cooperation between China and the United States," reads a statement published on the website of the Chinese Ministry of Commerce.
Trump wants to fight drugs
On Saturday, the White House issued a statement regarding Trump's signing of an order. "President Donald J. Trump is implementing a 25% additional tariff on imports from Canada and Mexico and a 10% additional tariff on imports from China," it reads.
Washington had previously stated that the reason for imposing high tariffs is to force these countries to reduce the smuggling of fentanyl, a potent opioid drug, into the United States. Canada was additionally accused of not taking sufficiently decisive measures to counter the influx of illegal immigrants into the United States.
"President Donald Trump is taking decisive action to protect Americans from the fentanyl crisis. Fentanyl is the leading cause of death for Americans ages 18 to 45. Today's tariff announcement is necessary to hold China, Mexico, and Canada accountable for their promises to halt the flood of poisonous drugs into the United States," it adds.
