China has fired back at the US with retaliatory tariffs on American goods, just as the US tariffs on all Chinese imports took effect.
The China’s tariffs, set to begin on Monday, will impose a 15% import tax on US coal and liquefied natural gas, as well as a 10% tax on crude oil, agricultural machinery, pick-up trucks, and certain sports cars.
This move comes after the US introduced a 10% tariff on all Chinese goods, which went into effect on Tuesday.
The US tariffs cover virtually all categories of goods, including consumer goods like electronics, clothing, and shoes.
President Trump has stated that the Chinese tariffs are a response to trade deficits and the flow of fentanyl into the US.
However, China’s decision to impose retaliatory tariffs may be a sign that it is willing to listen and negotiate.
In a related development, proposed US tariffs of 25% on Canadian and Mexican goods have been postponed following last-minute talks.
