China has announced retaliatory measures following President Donald Trump's implementation of a 10% tariff on goods from Beijing. According to Bloomberg, China has initiated an investigation into Google and has imposed tariffs on a range of American products.
Specifically, the Ministry of Finance of China stated that it will impose a 15% tariff on coal and liquefied natural gas, as well as a 10% tariff on oil and agricultural equipment imported from the United States.
Additionally, according to a statement from the State Administration for Market Regulation, China will be investigating the American tech giant Google for alleged antitrust violations.
The announced measures from China also include export controls on materials related to tungsten and the addition of PVH Corp., owner of Calvin Klein, and Illumina Inc., to the list of unreliable organizations.
"The unilateral imposition of tariffs by the U.S. significantly violates World Trade Organization rules. This not only fails to resolve its own issues but also undermines normal economic and trade cooperation between China and the U.S.," the statement from the Ministry of Finance of China reads.
U.S. Tariff Implementation
Over the weekend, Trump ordered the implementation of uniform tariffs on Chinese exports, which will take effect after midnight on Tuesday in the U.S. At the same time, he stated that his administration plans to negotiate with China before potentially imposing the 10% tariffs.
Meanwhile, Trump delayed the imposition of tariffs against Mexico and Canada.