Author: Unknown
Published on: 04/02/2025 | 00:00:00
AI Summary:
China has reacted swiftly to the imposition of 10 percent tariffs on Chinese goods by United States President Donald Trump. They went into effect at 05:01 GMT on Tuesday, and moments later, China’s Ministry of Finance announced it would impose 15 percent tariff on imports of US liquid natural gas (LNG) and coal. Beijing will begin imposing export controls on some rare earth minerals and metals central to the booming US tech industry and its green energy industry. Trump said he imposed tariffs on China over its role in the flow of fentanyl into the US. And what can the example of similar moves by Trump against Mexico and Canada tell us about the potential fallout from China’s rebuttal? What happened with Canada and Mexico, and how does it apply to China? China's antimonopoly regulator also announced investigations into Alphabet’s Google. Electric trucks imported from the US will also be hit with a 10 percent tariff. China’s move to curb the export of critical minerals and metals used in things like electronics, military equipment and solar panels. China's moves against US imports target a relatively small percentage of the total goods it brings in from the US, Song said. About 5.4 percent of China’s LNG imports come from US, totalling 4.16 million tonnes last year. Only 6.4 percent of US coal production goes to China, US export data showed. China produced roughly 80 percent of the global supply in 2023.
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