China Hits Back at Trump Tariffs With Measures on Some U.S.

Dow Jones NewsFeb 4, 5:41 AM UTC

DJ China Hits Back at Trump Tariffs With Measures on Some U.S. Goods

 

China has announced new tariffs on a range of U.S. products in retaliation for the Trump administration's latest 10% levy on all Chinese exports to the U.S.

 

The Customs Tariff Commission of the State Council said Tuesday it will impose a 15% tariff on U.S. coal and liquefied natural gas, along with 10% tariffs on crude oil, agricultural machinery, large-displacement vehicles, and pickup trucks.

 

In a statement, the commission said the additional tariffs are a direct response to the new U.S. duties. The measures will take effect on Feb. 10, it added.

 

Meanwhile, China's commerce ministry also said that from Tuesday, the country will implement export controls on tungsten, tellurium, bismuth, molybdenum, and indium products.

 

The news poured some cold water on the earlier relief rally in markets prompted by the postponement of U.S. tariffs on Canada and Mexico.

 

The offshore yuan weakened against the dollar, while benchmark indexes in Hong Kong, Japan and South Korea pared gains. Oil futures extended losses and bitcoin tumbled.

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(END) Dow Jones Newswires

 

February 04, 2025 00:41 ET (05:41 GMT)

 

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