Having just calmed down with the announcement of a delay in tariffs on Canada and Mexico this morning, China quickly launched a counterstrike against the United States (US) by imposing retaliatory tariffs shortly after President Trump's 10% tariffs on Chinese imports took effect.
According to a report by The Guardian, China's Ministry of Finance has imposed a 15% tariff on US coal and liquefied natural gas (LNG), as well as 10% on crude oil, agricultural equipment, and some types of cars that will take effect from February 10.
But that's not enough! China's Ministry of Commerce has also launched export controls on strategic minerals such as tungsten and ruthenium, under the pretext of protecting national security interests.
There's more!
Just minutes after the US tariffs took effect, China opened an investigation into Google for alleged violations of anti-monopoly laws.
As a 'cover-up', Beijing also submitted an official complaint to the World Trade Organization (WTO), accusing the US of unfair trade practices.
Imagine, in one swift move, China launches not one, not two, but FOUR attacks on the US at once!
The question is, what will Trump do next?
‘Reverse’ tariffs on China like Canada and Mexico, or stand firm with his stance?
