In response to President Donald Trump’s 10% tariffs levied against Chinese imports, China responded with their own 15% tariffs on U.S. goods, particularly energy.
According to a press release by the Chinese Finance Ministry, the order states that they will impose an additional 15% tariff on coal and liquefied natural gas (LNG) imports from the U.S. and a 10% tariff on American crude oil, “agricultural machinery, large-volume vehicles, and pickup trucks,” the press release says.
The Ministry said in its opening statement:
On February 1, 2025, the US government announced that it would impose a 10% tariff on all Chinese goods exported to the United States on the grounds of Fentanyl and other issues. The unilateral imposition of tariffs by the United States seriously violates the rules of the World Trade Organization, which not only does not help solve its own problems, but also causes damage to normal economic and trade cooperation between China and the United States.
In addition, the Chinese Commerce Ministry and customs officials also announced export controls on an array of items and technologies that utilize critical rare earth minerals, such as tungsten, ammonium, tellurium, ruthenium, molybdenum and ruthenium.
According to OEC, “The top imports of China are Crude Petroleum ($287B), Integrated Circuits ($232B), Iron Ore ($103B), Petroleum Gas ($72.7B), and Gold ($67.6B), importing mostly from United States ($151B), South Korea ($150B), Japan ($135B), Australia ($123B), and China ($123B).”
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