17 minutes agoChina responds to the US with countertariffs, says Google is investigating
Periskopi(a year ago)
(a year ago)China has imposed fees on American goods on Tuesday in response to new tariffs that the United States imposed on Chinese goods days ago, renewing trade warfare between the world's two main economies. Beijing also announced it is conducting an investigation into Google company. Additional tariffs of 10 for [...]
Beijing also announced it is conducting an investigation into Google company.
The 10 per cent extra tariff to all imports from China to the US went into effect Monday after midnight, as US President Donald Trump repeatedly warned Beijing that he was not doing enough to stop the flow of illegal drugs to the United States.
Not long ago, China's Finance Ministry announced it would impose a 15 per cent tax on US coal and liquid natural gas, as well as a 10 per cent tax on crude oil, agricultural equipment and several American vehicles.
New tariffs on American goods will take effect on February 10th, the Chinese ministry said.
The US unilateral increase in tariffs seriously violates World Trade Organisation rules”, says the communiqué issued by China's Finance Ministry. “This, not only does not help solve its problems, but also undermine normal economic and trade co-operation between China and the US”.
Meanwhile, China's State Administration for Market Adjusting said on Tuesday that it is investigating Google for doubts about violations of antitrust laws.
On the other hand, US tariffs for goods from Canada and Mexico were also expected to go into effect Tuesday, but Trump agreed to postpone the decision for 30 days, as these two countries took action to address their concerns on border security and drug trafficking.
Trump intends to talk to China's president, Xi Jinping, in the coming days.
In addition to tariffs, China also announced it would impose export controls on some vital elements for the production of modern high-tech products. These include Tungsten, telutium, bismut, mojibden, and tissue. Most of these elements have been described as vital minerals by the US Geological Service, which means they are essential to the US economy or national security.
China had also established checks on key elements such as the galium, which is used in production in December.
The Finance Ministry also placed two American companies on the list of insecure entities: PVH Group, who owns Calvin Klein and Tommy Hilfiger, and Illuminati, a biotechnology office company in China.
Including this list prevents them from engaging in import-related activities or exports to China and from making new investments in the country. / REL
