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China imposes retaliatory tariffs on US goods including coal, crude oil, and some vehicles

The Ministry of Finance said it would impose tariffs on coal, liquefied natural gas crude oil, agricultural machinery, and some vehicles.
China has imposed retaliatory tariffs on a range of U.S. goods, including coal, crude oil, and certain vehicles, in response to the U.S. increasing tariffs on Chinese electric vehicles, semiconductors, and medical products. This move comes as part of an escalating trade war between the two economic giants, with China targeting $16.5 billion worth of U.S. products. The tariffs, which will take effect from June 15, 2024, are seen as a direct countermeasure to the U.S. actions aimed at protecting its domestic industries. This development could further strain the already tense trade relations, potentially impacting global trade dynamics and increasing costs for consumers and businesses involved in these sectors.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/money/other/china-imposes-retaliatory-tariffs-on-us-goods-including-coal-crude-oil-and-some-vehicles/ar-AA1ymKqh ]