US Sectors Hit By New Chinese Tariffs And Restrictions
Earlier this week, China’s tariffs on some US products came into effect, in response to the 10% increase in tariffs that the Trump administration imposed on all Chinese products, starting on February 1st.
China created a 15% tariff on coal and Liquefied Natural Gas (LNG) and a 10% tariff on crude oil, agricultural machinery, cars with large engines and pickup trucks.
On February 4, Xi Jinping’s government filed a lawsuit against the US government’s tariff imposition with the World Trade Organization’s dispute settlement mechanism.
China has also implemented export controls on five metals: tungsten, tellurium, bismuth, molybdenum, and indium.