China retaliates with a 15% tariff on US coal and gas.

The trade tensions between the United States and China have escalated once again. With Beijing announcing a series of retaliatory measures against Washington. Just moments after President Donald Trump imposed a 10% tariff on a range of Chinese goods. China responded by launching an anti-trust investigation into Google and slapping new tariffs on several American exports. According to a statement released by the State Administration for Market Regulation. The US tech giant will be probed for alleged monopolistic practices, signaling a deepening conflict between the two economic powerhouses. Additionally, China has introduced fresh tariffs of 15% on US coal and liquefied natural gas (LNG). Along with a 10% duty on oil and agricultural equipment from the US, further escalating the already intense trade war.

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China’s Tariffs and Export Controls Impact Global Markets

Alongside tariffs, China has also implemented export controls on tungsten-related materials. A crucial component in high-tech industries, which could disrupt global supply chains. Furthermore, Beijing has added PVH Corp. The parent company of Calvin Klein, and Illumina Inc. to its “unreliable entity list,” restricting their ability to operate within the Chinese market. This move appears to be a direct response to US restrictions on Chinese firms, such as Huawei and TikTok, in recent years. The impact of these measures is already being felt in global markets. With the offshore yuan losing 0.3%, dropping to 7.3340 amid trade war fears. The Australian and New Zealand dollars, often seen as proxies for Chinese economic activity, also declined by at least 0.8%. Reflecting growing concerns over the economic fallout from the renewed tensions.

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US-China Trade War Escalates with New Tariff Amid Drug Dispute

President Trump’s decision to impose a 10% blanket tariff on Chinese exports comes as part of his administration’s crackdown on Beijing, citing China’s failure to prevent the flow of illegal drugs into the US as a key reason. The US tariffs, which took effect after midnight on Tuesday, include a retaliation clause allowing Washington to further increase tariffs if Beijing responds with countermeasures. With both nations doubling down on protectionist policies, the global economic landscape faces renewed uncertainty. The ongoing tit-for-tat trade war could further strain diplomatic relations and disrupt supply chains, potentially impacting global markets, businesses, and consumers in the months to come.