China Announces Measures Against US Firms as Trade Tensions Escalate

China Announces Measures Against US Firms as Trade Tensions Escalate

Beijing has imposed a 15% tariff on coal and liquefied gas, alongside a 10% tariff on oil and agricultural equipment imported from the US, following President Trump’s decision to implement a 10% tariff on goods coming from China, escalating trade tensions between the world’s two largest economies.

China has also announced an investigation into Google, alleging anti-monopoly law violations, according to a statement issued by China’s State Administration for Market Regulation on Tuesday.

These measures which are seen as part of China’s retaliation against Trump’s tariffs decision also included putting PVH Corp (PVH.N), the holding company for brands including Calvin Klein and Tommy Hilfiger, and U.S. biotechnology firm Illumina (ILMN.O) on its “unreliable entity” list.

 

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Doaa Ashraf 728 Posts

Doaa is a staff writer with a Bachelor's Degree in Mass Communication, majoring Journalism from Ahram Canadian University. She has 2-3 years of experience in copywriting, and content creation.

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