Wednesday Briefing: China Hits Back Against U.S. Tariffs
China struck back yesterday against President Trump’s 10 percent tariffs on all Chinese products with tariffs of its own on U.S. coal and gas as well as restrictions on exports of some minerals.
China’s tariffs will not take effect until Feb. 10, according to the Chinese government, meaning there is still some time for negotiations. The White House press secretary said that a call between Trump and China’s leader, Xi Jinping, was being scheduled and would happen very soon. Here’s the latest.
Details: China’s tariffs would cover about $20 billion of U.S. exports, compared with Trump’s tariffs on more than $450 billion of Chinese goods, economists estimated. Chinese authorities also started an antitrust investigation into Google.
Context: As Trump alienates allies and partners with the threat of tariffs, his actions give Beijing an opening to strengthen its global standing.
Catch up: The leaders of Canada and Mexico each negotiated a 30-day delay in U.S. tariffs. Our reporters looked at the different routes they took to arrive at the same outcome.