China Hits Back with Retaliatory Tariffs

China announced overnight that it will impose its own tariffs in retaliation for the newly announced U.S. tariffs. China has indicated that, effective February 10, 2025, it will impose a 15% tax on certain types of coal and liquefied natural gas and a 10% tariff on crude oil, agricultural machinery, large-displacement cars, and pickup trucks. In addition, China will impose new export controls on more than two dozen metals, including Tungsten, and related technologies. More is surely to come as the Trump administration’s own tariffs take effect.