China said on Tuesday that it would oppose President Trump's tariffs for Chinese products with its own tariffs for numerous US imports. It also announced the antitrust investigation of Google and other trade measures aimed at the US
China has said to implement a 15% coal tariff and liquefied natural gas products, as well as 10% raw oil, agricultural machinery and large engine car imported from the United States came into force next Monday.
“The unilateral tariff in the US seriously violates the rules of the World Trade Organization,” the Ministry of Finance said. “This is not only not only in solving your own problems, but also damages normal economic and trade cooperation between China and the USA”
Beijing said he would file a complaint with the WTO for “malicious” levies, reports Agence France-Presse.
China is the world's largest importer of liquefied natural gas (BCG), and its leading suppliers – Australia, Qatar and Malaysia. The United States, which is the largest exporter of the SPG worldwide, does not significantly export Mrs. to China.
In addition, the Chinese State Administration under the market regulations said Google was investigating on suspicion of violations of antitrust legislation on Tuesday. The report did not mention the tariffs, but occurred a few minutes after 10% of Mr Trump's tariffs in China came into force.
It is unclear how the probe will affect Google operations. Google has a limited presence in China, and its search engine is blocked in the country, like most other Western platforms. Google came out of the Chinese market in 2010 after refusing to fulfill the Querian government requests and after a number of cyberators in the company.
Google did not immediately comment.
G -n Trump stopped his plans on Monday implement steep tariffs At least a month after the Mexico and Canada imports from the leaders of both countries, who promised to intensify efforts to combat drug flow and migrants across its borders from the United States, he planned to talk to Chinese President Xi Jinping in the next few days.
In addition to the tariffs and Google Probe, China has announced export control on multiple elements that are important for the production of modern high -tech products. These include tungsten, telur, bismouth, molybdenum and India, many of which are intended for critical minerals by the US Geological Service, which means that they are important for American economic or national security and have supplies vulnerable.
Export control elements in addition to those who are located in December on key elements such as the Galium used in production.
The Ministry of Commerce also posted two US companies in the list of “unreliable organizations”: PVH Group, which owns Calvin Klein and Tommy Helpiger, and Illumina, a biotechnology company with offices in China. The list forbids them to engage in China related to import or export, and make new investments into the country.
Last September, Beijing launched an investigation into the PVH group on “Incorrect behavior associated with Xinjiang” after the company allegedly boycotted the use of Xinjiang Kotton.
Possible consequences
Analysts note that China's retaliation measures will not only lead to a negative impact on the US economy, but will also affect the rest of the world.
“They have a much more developed export control regime. We depend on them a lot of critical minerals: Gali, Germany, graphite, many. State Department official and director of the Center for Strategic and International Studies on Monday at the Forum.
China's response looks calculated and measured, said Stephen Daur, the main market strategist and the head of the Institute Franklin Templeton.
“The risk is that this is the beginning of the trading war” tit “, which can lead to a decrease in GDP growth ubiquitous, higher inflation in the US, a stronger dollar and increasing pressure on US interest rates,” said Doure.
On Saturday, Mr Trump signed orders Introduction of 25% tariffs for imports From Mexico and Canada and 10% collection of goods from China. They had to start at 12:01 on Tuesday.
In Mexico and Canada were both – Note They will issue tariffs on the US import, raising the fear of a trade war that can stifle economic activity between the US and its neighbors.