After slapping tariffs on a range of US products, China has filed a complaint with the World Trade Organization (WTO)'s dispute settlement mechanism against the Thrump administration decision to impose an additional 10-percent tariff on goods from China, the Ministry of Commerce said Tuesday. Beijing also announced a probe into Google.China will investigate the US tech giant for alleged antitrust violations, according to a Tuesday statement from the State Administration for Market Regulation. Beijing hit US coal and liquefied natural gas exports with a 15% levy, and targeted its oil and agricultural equipment with a 10% fee.
Authorities also put Calvin Klein owner PVH Corp. and US gene sequencing company Illumina Inc. onto a so-called blacklist of entities, as well as imposing new export control on tungsten-related materials. China's Finance Ministry said in a statement announcing tariffs. "It is not only unhelpful in solving its own problems, but also undermines the normal economic and trade cooperation between China and the US." Xi's government swung back with its retaliation almost immediately after US tariffs came into force. That action dashed hopes that Beijing would reach a deal to avoid the tariffs, after Trump said he would speak to Xi soon.
China is a major source of the precursor chemicals to make fentanyl, and Beijing says it has gone out of its way to help curb the flow of the synthetic opioid into America. After Trump announced his latest tariffs, China warned that they would damage prospects for future cooperation and vowed to launch a case against them in the WTO. Trump has warned that he could increase the tariffs on China further.
.jpg)
Related Items
US reciprocal tariffs unlikely to significantly impact India: GTRI
Canada, Mexico and EU criticise Trump’s metal tariffs
Trump tariffs jolt Indian markets, Sensex falls 1,018 pts