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Beijing announced a broad package\u00a0of economic measures targeting the United States on Tuesday, hitting back after US President Donald Trump imposed 10% tariffs on Chinese imports, CNN reported.\u00a0<\/p>\n
The fresh duties,\u00a0announced by\u00a0China\u2019s Ministry of Finance, levy a 15% tax on certain types of coal and liquefied natural gas and a 10% tariff on crude oil, agricultural machinery, large-displacement cars and pickup trucks. The measures take effect on February 10.<\/p>\n
The Ministry of Commerce and China\u2019s customs administration also announced new export controls effective immediately on more than two dozen metal products and related technologies. Those include tungsten, a critical mineral typically used in industrial and defense applications, as well as tellurium, which can be used to make solar cells.<\/p>\n
The ministry also said it was adding two American firms \u2014 biotech company Illumina and fashion retailer\u00a0PVH Group, owner of Calvin Klein and Tommy Hilfiger \u2014 to its unreliable entities list, saying they \u201cviolated normal market trading principles.\u201d<\/p>\n
A Ministry of Commerce spokesperson said Tuesday that it found PVH discriminated against and interfered with the operations of Chinese companies, though the spokesperson failed to provide specifics.<\/p>\n
PVH criticized the decision and said it would work with Chinese authorities to resolve the situation.<\/p>\n
In a\u00a0separate statement, China\u2019s State Administration for Market Regulation said it was initiating an investigation into Google for suspected violation of its anti-monopoly. The company, whose search engine is not available in China, has minimal operations in the country.<\/p>\n
The raft of announcements come as a broad-based 10% tariff on Chinese imports to the United States announced by the White House on Saturday came into effect.<\/p>\n
China\u2019s measures appear to vary in their potential impact on the US economy and businesses. For example, China is the leading global producer of tungsten concentrates, representing more than 80% of world production, according to US government\u00a0estimates\u00a0from 2020. The tariffed items, however, represent a relatively small proportion of overall bilateral trade.
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