China announced Tuesday that it will impose new tariffs on U.S. imports in response to Washington’s recent tariff hikes, escalating trade tensions between the world’s two largest economies.
The new measures include a 15% tariff on coal and liquefied natural gas, as well as 10% tariffs on crude oil, agricultural machinery, large vehicles, and pickup trucks, China’s Ministry of Commerce said.
The move follows the U.S. decision over the weekend to impose a 10% tariff on Chinese goods.
On Saturday, former President Donald Trump unveiled a series of tariff increases targeting major trade partners, including China, Canada, and Mexico. The new duties add a 10% tariff on top of existing levies. Trump framed the tariffs as a response to what he called the failure of these countries to curb the flow of illegal migrants and drugs into the United States.
As trade tensions escalate, the global economic outlook remains uncertain, with potential implications for businesses and consumers.