In a sharp rebuke, China’s Ministry of Commerce on Tuesday announced the implementation of counter-tariffs against the US on multiple products, including LNG, coal and crude, while announcing other trade-related measures, including an investigation into Google.
The Chinese government said that it would implement a 15 per cent tariff on coal and liquified natural gas (LNG) products and a 10 per cent tariff on crude oil, agricultural machinery, and large-displacement cars.
In a statement, Beijing said, “The US’s unilateral tariff increase seriously violates the rules of the World Trade Organization." “It is not only unhelpful in solving its own problems but also damages normal economic and trade cooperation between China and the US,” it further added.
Notably, the 10 per cent tariff on China that US President Donald Trump ordered was set to go into effect on Tuesday, although Trump planned to talk with Chinese President Xi Jinping in the next few days.
Meanwhile, on Tuesday, China’s State Administration for Market Regulation said it was investigating Google on suspicion of violating antitrust laws. While the announcement did not specifically mention any tariffs, the announcement came just minutes after Trump’s 10 per cent tariffs were to take effect.
(With AP Inputs)
