China strikes back at President Trump with tariffs against the US
China has retaliated against President Donald Trump's tariffs by implementing some of its own tariffs against the US amid a looming trade war.
Separately, China's Commerce Ministry and its Customs Administration said the country is imposing export controls on tungsten, tellurium, ruthenium, molybdenum, and ruthenium-related items to safeguard national security interests.
China will further probe Google for alleged anti-trust violations, according to a statement from the State Administration for Market Regulation, though the specifics of the probe remain unclear.
The tariffs would go into effect next Monday.
This comes after Trump implemented his 10 percent tariffs on all Chinese imports to the United States.
A White House spokesperson said Trump would not be speaking with Chinese President Xi Jinping until later in the week.
During his first term in 2018, Trump initiated a brutal two-year trade war with China over its massive U.S. trade surplus, with tit-for-tat tariffs on hundreds of billions of dollars worth of goods, upending global supply chains and damaging the world economy.
Its annual trade deficit then widened to $361billion, according to Chinese customs data released last month.
'The trade war is in the early stages so the likelihood of further tariffs is high,' Oxford Economics said in a note as it downgraded its China economic growth forecast.
Trump has now warned he might increase tariffs on China further unless Beijing stemmed the flow of fentanyl, a deadly opioid, into the United States.
'China hopefully is going to stop sending us fentanyl, and if they're not, the tariffs are going to go substantially higher,' he said on Monday.
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