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China announces retaliatory tariffs moments after US levies take effect (www.theguardian.com)

submitted 6 months ago by MashedHobbits@lemy.lol to c/world@quokk.au

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Trump’s additional 10% tariff across all Chinese imports into the US came into effect at 12:01 am ET on Tuesday (05:01 GMT). Within minutes, China’s Finance Ministry said it would impose levies of 15% for US coal and LNG and 10% for crude oil, farm equipment and some autos. The new tariffs on US exports will start on 10 February, the ministry said.

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[–] Stern@lemmy.world 9 points 6 months ago* (last edited 6 months ago)

Mysteriously, tariffs lead to trade wars. Who could have predicted this except everyone?