China counters with tariffs on US coal and LNG imports
The Chinese Ministry of Finance has announced new tariffs on imports from the USA, including a 15% tariff on coal and LNG. This decision is a response to Washington's earlier actions.
The Chinese Ministry of Finance introduced 15% tariffs on importing coal and liquefied natural gas (LNG) from the United States. The new tariffs, which will take effect on 10th February, respond to the 10% tariffs imposed by Washington on Chinese imports.
Additionally, Beijing announced 10% tariffs on the import of crude oil, agricultural machinery, and large-engine vehicles, including pickups. This decision is a reaction to the USA's actions on 1 February, which, according to the Chinese Ministry of Commerce, violated the World Trade Organization (WTO) rules.
"This unilateral tariff hike by the U.S. side seriously violates World Trade Organization rules, does nothing to solve its own problems, and undermines normal China–U.S. economic and trade cooperation," reads a statement published on the Chinese Ministry of Commerce website.
Trump wants to fight drugs
On Saturday, the White House issued a statement regarding Trump's signing of an order. "The order provides for the imposition of 25% tariffs on goods from Canada and Mexico, with the exception of petroleum products subject to a lower 10% tariff and additional 10% tariffs on goods from China," it reads.
Washington had previously stated that the reason for imposing high tariffs is to force these countries to reduce the smuggling of fentanyl, a powerful opioid drug, into the USA. Canada was additionally accused of not taking sufficiently decisive measures to counter the influx of illegal immigrants into the USA.
"President Donald Trump is taking decisive action to protect Americans from the fentanyl crisis. Fentanyl is the leading cause of death for Americans ages 18 to 45," the White House statement reads. "Today’s tariff announcement is necessary to hold China, Mexico, and Canada accountable for their promises to halt the flood of poisonous drugs into the United States," it adds.
