China Retaliates With Tariffs On US Goods Following Donald Trump's Trade Announcement

(MENAFN- Live Mint) In direct reaction to US President Donald Trump's announcement of a 10% tariff on Chinese imports, China said Tuesday it would impose a 15% tariff on U.S. coal and liquefied natural gas imports.

Beijing's finance ministry also disclosed plans to impose 10% tariffs on various US goods, such as crude oil, farm equipment, pickup trucks, and high-performance automobiles like big-engine sports cars.

China said that the United States "unilateral tariff hike" over the weekend prompted the additional duties.

The finance ministry says Beijing's tariffs will go into force on Monday.

“The US's unilateral tariff increase seriously violates the rules of the World Trade Organization," China's ministry of commerce said in a statement.

“It is not only unhelpful in solving its own problems, but also damages normal economic and trade cooperation between China and the US,” the statement added.

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On Saturday, the US announced several trade actions, including adding a 10 percent tariff to already-existing duties on Chinese goods.

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