Jakub Porzycki | Nurphoto | Getty Images
China’s finance ministry said Tuesday it will impose additional tariffs of 15% on coal and liquified natural gas imports from the U.S. and 10% higher duties on American crude oil, farm equipment and certain cars, starting Feb. 10.
The tariffs announcement came as part of a flurry of punitive actions that Beijing unveiled on Tuesday, minutes after the blanket 10% additional U.S. tariffs on Chinese goods came into effect.
China reiterated that the imposition of additional levies “seriously violates the rules of the World Trade Organization,” according to a CNBC translation of the statement in Chinese.
In a separate statement Tuesday, Chinese commerce ministry and customs officials announced to impose export controls on a range of items related to certain critical minerals, including tungsten, tellurium, ruthenium, molybdenum and ruthenium.
U.S. President Donald Trump on Monday agreed to a 30-day pause on the implementation of planned 25% tariffs on imports from Canada and Mexico, as the two countries agreed to take steps to prevent the illicit drug trafficking of fentanyl into the U.S.
As Trump started his second term, he ordered his administration to investigate Beijing’s compliance with a trade deal struck during his first presidency in 2020. The final result of the assessment will be delivered to Trump by April 1, potentially setting the stage for further tariff actions, economists said.
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