Tariff war between US and China begins

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On February 1, 2025, President Donald Trump issued an executive order imposing a 10% tariff on all imports from China, effective February 4, 2025.


In response, China's Ministry of Finance announced retaliatory tariffs on February 4, 2025, which took effect on February 10, 2025. These countermeasures include additional duties of 10% and 15% on select U.S. goods, particularly targeting natural resources and machinery. 


Additionally, China's Ministry of Commerce implemented export controls on critical minerals and placed two U.S. companies on its Unreliable Entity List. The State Administration for Market Regulation also launched an antitrust investigation into Google.


These actions indicate China's strategic approach to countering U.S. tariffs by targeting key industries and resources, potentially escalating trade tensions between the two nations.


In response to China's retaliatory tariffs, President Donald Trump has maintained a firm stance, emphasizing the need to address trade imbalances and illicit activities. He has indicated that the United States is prepared to implement additional tariffs if necessary. On February 4, 2025, when asked about potential discussions with Chinese President Xi Jinping, Trump stated, "At the appropriate time. I'm in no rush."


Furthermore, President Trump has announced plans to impose a 25% tariff on all imported steel and aluminum, signaling a broader approach to trade policy. He also mentioned that reciprocal tariffs would be announced soon, aiming to equalize the tariff rates between the U.S. and its trading partners.


These actions underscore the administration's commitment to addressing trade disparities and protecting domestic industries, even as they raise concerns about potential escalations in global trade tensions. 

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