China Imposes Retaliatory Tariffs: 15% On Coal, LNG; 10% On US Crude
After the US government announced a 10 per cent tariff on all Chinese goods exported to America, China on Tuesday imposed additional tariffs on various US goods, including a 15 per cent tariff on coal and liquefied natural gas, and a 10 per cent tariff on crude oil starting from February 10.
China’s Ministry of Finance further said that the tariffs will be enforced under Chinese laws and international trade principles.
In a statement, the ministry said, “On February 1, 2025, the US government announced that it would impose a 10 per cent tariff on all Chinese goods exported to the US on the grounds of fentanyl and other issues. The US’s unilateral imposition of tariffs seriously violates the rules of the World Trade Organization. It is not only unhelpful in solving its own problems, but also undermines the normal economic and trade cooperation between China and the US.”
“In accordance with the Tariff Law of the People’s Republic of China, the Customs Law of the People’s Republic of China, the Foreign Trade Law of the People’s Republic of China and other laws and regulations and the basic principles of international law, and with the approval of the State Council, additional tariffs will be imposed on some imported goods originating from the United States starting from February 10, 2025,” it added.
China further said that a 15 per cent tariff will be imposed on coal and liquefied natural gas. A 10 per cent tariff will be imposed on crude oil, agricultural machinery, large-displacement cars and pickup trucks.
“For the imported goods listed in the appendix originating from the United States, corresponding tariffs will be levied on the basis of the current applicable tariff rates. The current bonded and tax reduction and exemption policies remain unchanged, and the additional tariffs will not be reduced or exempted,” the Finance Ministry said.
China’s decision comes after US President Donald Trump imposed a 10 per cent tariff on goods from China, citing concerns over illegal immigration and the smuggling of drugs, including fentanyl.
Earlier on February 2, China’s Commerce and Finance ministries had denounced Trump’s decision to impose tariffs and said that the country would challenge the decision before the World Trade Organization and take unspecified “countermeasures”. The Ministry of Commerce said the tariff “seriously violates” international trade rules, urging the US to “engage in frank dialogue and strengthen cooperation”. (ANI)
