China Retaliates: Tariffs on U.S. Goods, Export Controls on Rare Metals

China Imposes Retaliatory Tariffs on U.S. Goods Amidst Ongoing Trade Tensions

The State Council Customs Tariff Commission of China has announced the imposition of additional tariffs on some imported goods originating in the United States. Starting from February 10, 2025, a 15% tariff will be applied to coal and liquefied natural gas, while a 10% tariff will be levied on crude oil, agricultural machinery, high-displacement cars, and pickups.

In response to the U.S. tariffs on Chinese goods, China has also implemented export controls on tungsten, tellurium, bismuth, molybdenum, and indium-related items. Additionally, the State Administration for Market Regulation of China has initiated an investigation into Google for alleged violations of the "Anti-Monopoly Law of the People's Republic of China."

The Ministry of Commerce of China has decided to include PVH Group and Illumina, Inc. on the Unreliable Entity List, citing violations of normal market transaction principles, disruption of normal transactions with Chinese companies, and discriminatory measures against Chinese companies.

The imposition of these tariffs and export controls is expected to have an impact on global markets, including the cryptocurrency sector. As the trade war between the U.S. and China continues to escalate, investors and traders should remain vigilant and monitor the situation closely.