Tue 04 February 2025:
In a tit-for-tat move, China on Tuesday imposed additional tariffs on some US products, according to local media.
According to China’s Ministry of Commerce and General Administration of Customs, Beijing imposed additional tariffs on certain imported goods originating from the US, including a 15% tariff on coal and liquefied natural gas and 10% tariff on crude oil, agricultural machinery, large-displacement cars, and pickup trucks, state-run Global Times reported.
The ministry said that Washington’s unilateral tariff “seriously violates the rules of the World Trade Organization.”
China also included two US companies PVH Group and Illumina into unreliable entities list.
“The two entities have violated the principle of normal market transactions by cutting normal transactions with Chinese enterprises and adopting discriminatory measures against Chinese firms, seriously jeopardizing the legitimate rights and interests of Chinese companies,” said the ministry.
Beijing also said it will impose tariffs of 10% to 15% on some more US products starting on Feb. 10, the South China Morning Post reported.
Meanwhile, China’s State Administration for Market Regulation said it has launched a formal investigation into US tech giant Google over a suspected violation of China’s Anti-Monopoly Law.
The latest development comes after US President Donald Trump imposed a 10% tariff on imports from China.
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‘Great interest’ in TikTok
US President Donald Trump said Monday that there is “great interest” in TikTok as his administration seeks to arrange a deal for the sale of the popular short-video sharing app.
“GREAT INTEREST IN TIKTOK! Would be wonderful for China, and all concerned,” Trump said on his Truth Social platform.
Previously, Trump said that “a lot of people” will be bidding to own TikTok.
After taking the oath of office on Jan. 20, Trump signed an executive order in an attempt to delay a ban of the app for 75 days.
According to the order, he is pursuing a resolution that protects national security while saving a platform used by 170 million Americans.
Discussions over TikTok’s future continue, with American investors and companies showing interest.
Trump has indicated that a deal is expected soon, stressing that the US must benefit from any agreement.
-Source: AA
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