CHINA HITS BACK WITH NEW RETALIATORY TARIFFS ON U.S. GOODS - FT
Starting Monday, China will impose tariffs of up to 15% on $14B worth of U.S. goods, including LNG, coal, crude oil, farm equipment, and certain vehicles, according to the FT.
The move comes in retaliation to Trump's additional 10% levy on Chinese imports.
China is also targeting critical U.S. industries by restricting exports of rare earth metals used in defense, EV batteries, and solar panels. With 60% of global rare earth production and 90% of processing, Beijing’s actions underline its dominance in the supply chain. Trump has yet to engage in negotiations, stating he’s in “no rush” to speak with Xi Jinping. Meanwhile, analysts warn these tariffs could be a prelude to even stricter trade measures, fueling uncertainty in global markets.
