(VOVWORLD) - China on Tuesday imposed targeted tariffs on American imports and warned companies like Google of possible sanctions in response to President Donald Trump's 10% tariffs on Chinese goods.
 Cranes and containers are seen at the Yantian port in Shenzhen, Guangdong province, China May 17, 2020. (REUTERS) |
Capital Economics, a UK-based research firm, estimated that China's additional tariffs would apply to about 20 billion USD of annual imports, compared with the 450 billion USD worth of Chinese goods subject to the Trump tariff that took effect on Tuesday.
China's new measures include a 15% levy on US coal and LNG and 10% for crude oil, farm equipment and a small number of trucks as well as big-engine sedans shipped to China from the US. It is also imposing export controls on some metals that are critical for electronics, military equipment and solar panels.
President Trump on Monday suspended his threat of 25% tariffs on Mexico and Canada at the last minute, agreeing to a 30-day pause in return for concessions on border and crime enforcement.