China imposed tariffs on US imports, including coal, liquefied natural gas, crude oil, agricultural machinery, and large-engine cars. The move came in response to President Trump's tariffs on Chinese products. Beijing also announced an antitrust investigation into Google and export controls on several critical minerals.
BEIJING—China countered President Donald Trump’s tariffs on Chinese products with tariffs of its own on multiple US imports Tuesday as well as announcing an antitrust investigation into Google and other trade measures.
China is the world’s largest importer of liquefied natural gas , with its top suppliers being Australia, Qatar and Malaysia. The US, which is the biggest exporter of LNG globally, does not significantly export LNG to China. It is unclear how the probe will affect Google’s operations. Google has a limited presence in China, and its search engine is blocked in the country like most other Western platforms. Google exited the Chinese market in 2010 after refusing to comply with censorship requests from the Chinese government and following a series of cyberattacks on the company.Analysts said that China’s retaliatory measures would cause adverse effects on not just the US economy but also impact the rest of the world.
“A risk is that this is the beginning of a tit-for-tat trade war, which could result in lower GDP growth everywhere, higher US inflation, a stronger dollar and upside pressure on US interest rates,” Dover said. The export controls are in addition to ones China placed in December on key elements such as gallium used in manufacturing.
Economics CHINA US TARIFFS TRADE WAR ANTITRUST EXPORT CONTROLS
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