Tariff development as China joins the fray
At the eleventh hour on February 3, the US delayed by 30 days the imposition of tariffs of 25% on imports from Mexico and Canada. But, as previously announced, it went ahead with the start of new tariffs of 10% on all imports from China on February 4.
These new tariffs are in addition to existing tariffs on goods imported to the US from China.
Minutes after the new tariffs began to apply, China announced a series of retaliatory measures. Its commerce ministry said China would begin adding tariffs of 15% on imports of coal and liquified natural gas, and of 10% on imports from the US of large cars, trucks and agricultural machinery. These are to take effect on February 10.
China also said it would begin an investigation to see if US technology company Google is in breach of the Asian country’s anti-monopoly laws. It has also lodged a complaint against the US with the World Trade Organization.
It said it had repeatedly warned the US government that, in trade wars, there are no winners and called on President Donald Trump to enter into negotiations.
