China on Tuesday slapped tariffs on some U.S. imports in a swift response to new U.S. duties on Chinese goods, renewing a trade war between the world’s top two economies even as President Donald Trump offered reprieves to Mexico and Canada.
Additional 10% tariff across all Chinese imports into the U.S. came into effect at 12:01 a.m. ET on Tuesday (0501 GMT) after Trump repeatedly warned Beijing it was not doing enough to halt the flow of illicit drugs into the United States.
Within minutes, China’s Finance Ministry said it would impose levies of 15% for U.S. coal and LNG and 10% for crude oil, farm equipment and some autos.
China also said it was starting an anti-monopoly investigation in Alphabet Inc’s Google, while including both PVH Corp the holding company for brands including Calvin Klein, and U.S. biotechnology company Illumina on its “unreliable entities list”.
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