President Trump and Chinese president Xi Jinping engage

China Retaliates in Trade War

China unveiled a series of retaliatory measures against the U.S. on Tuesday, shortly after U.S. tariffs on Chinese goods took effect, raising concerns of a broader trade war between the world’s two largest economies.

China’s Finance Ministry said Tuesday it will impose additional tariffs of 15% on coal and liquefied natural gas imports from the U.S. and 10% higher duties on American crude oil, agricultural machinery and certain cars, starting Feb. 10.

China reiterated that the imposition of additional levies of 10% by the U.S. “seriously violates the rules of the World Trade Organization … destructs the normal bilateral economic and trade activities” according to a CNBC translation of the statement in Chinese.

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