US Imposes 10% Additional Tariffs on Chinese Goods; China Retaliates with Antitrust Probe on Google and Counter Tariffs
- President Donald Trump announced a 10% additional tariff on Chinese products.
- China announced an antitrust investigation into the American IT company Google and counter tariffs.
- China announced a 15% and 10% additional tariff on American products such as coal and liquefied natural gas (LNG).
- The article was summarized using an artificial intelligence-based language model.
- Due to the nature of the technology, key content in the text may be excluded or different from the facts.
The 10% additional tariff on Chinese products enforced by President Donald Trump took effect on the 4th. In response, China has initiated an antitrust investigation into the American IT company Google and announced counter tariffs.
On the 4th, President Trump signed an executive order imposing an additional 10% tariff on imports from China.
China immediately retaliated. According to Reuters, the Chinese Ministry of Finance announced a 15% tariff on American products such as coal and liquefied natural gas (LNG). Additionally, they decided on an additional 10% tariff on crude oil, agricultural machinery, and some automobiles imported from the US. This will take effect from the 10th.
Furthermore, they announced export controls on items related to tungsten, tellurium, bismuth, molybdenum, and indium, and added PVH Group, the parent company of Calvin Klein, and the gene analysis company Illumina to the 'unreliable entities' list.
Along with the counter tariffs, China has also started an antitrust investigation into Google. According to Chinese state media CCTV, the State Administration for Market Regulation announced that it has begun investigating Google for alleged violations of the 'Antitrust Law'.
Last December, Chinese authorities also launched an antitrust investigation into NVIDIA. This move was interpreted as a response to the series of measures by the Joe Biden administration, including export controls on advanced industries to China.
Meanwhile, the US announced a 30-day tariff deferral on the executive order that was set to impose an additional 25% tariff on Mexico and Canada starting today.
Kim Soo-young, Hankyung.com reporter swimmingk@hankyung.com

Korea Economic Daily

hankyung@bloomingbit.ioThe Korea Economic Daily Global is a digital media where latest news on Korean companies, industries, and financial markets.PiCK News
Binance "Does Not Sell Assets... Part of Financial Accounting Process"
5 minutes ago
Exchange Bitcoin Balance at 3-Year Low... "Potential Supply Shock"
19 minutes ago
"Solana-based DEX Volume to Surpass Ethereum for Four Consecutive Months"
1 hours ago
[Analysis] Citi: "Ethereum's Fundamentals Improved Despite 20% Drop This Year"
2 hours ago![[Analysis] Citi: "Ethereum's Fundamentals Improved Despite 20% Drop This Year"](https://media.bloomingbit.io/prod/news/adc6126b-bd54-4c83-9e1a-e6f1aefe0e81.webp)
Jeong Eun-bo, Chairman of Korea Exchange, "Will Discuss Introduction of Virtual Asset ETF with Authorities"
6 hours ago