China responds to the across-the-board 10% tariffs imposed by Donald Trump‘s administration with targeted measures on a range of U.S.energy imports and restrictions on key minerals exports, officially reopening a new chapter in the trade war between the world’s two largest economies.“The unilateral increase in tariffs by the United States seriously violates the rules of the World Trade Organization,” the Ministry of Finance of the People’s Republic of China stated Tuesday.What Happened
As the U.S.implemented a 10% tariff on all Chinese imports, China responded on Feb.4 with a series of countermeasures.
Imposing export restrictions on key minerals like tungsten, tellurium, bismuth, molybdenum, and indium, along with their related metallic compounds.Adding two U.S.companies, PVH Corp.(NYSE:PVH) and Illumina Inc.(NASDAQ:ILMN), to its Unreliable Entity List in order to “safeguard national sovereignty, security and development interests.” According to China, these companies “violated the principles of normal market transactions, interrupted normal transactions with Chinese enterprises, and took discriminatory measures ...
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