The US Ministry of Commerce announced tariffs on various Chinese goods, including coal, LNG, crude oil, agricultural machinery, and large-displacement cars. Simultaneously, China announced its own retaliatory tariffs targeting US imports. The move escalates trade tensions between the two nations.
The Ministry of Commerce announced a 15 per cent tariff on coal and liquified natural gas products and a 10 per cent tariff on crude oil, agricultural machinery and large-displacement cars.
The tariff takes in all imports from China, including the previously exempt shipments of less than $US800 . At the same time, China's State Administration for Market Regulation announced it was investigating Google for anti-monopolistic behaviour.
TRADE WAR TARIFFS CHINA USA GLOBAL ECONOMY
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