China Retaliates with Tariffs, Google Probe
Analysis based on 11 articles · First reported Feb 04, 2025 · Last updated Feb 04, 2025
The escalating trade war between China and the United States is expected to result in lower global GDP growth, higher U.S. inflation, a stronger dollar, and upward pressure on U.S. interest rates. The actions against Alphabet Inc., PVH Corp., and Illumina could negatively impact their stock prices and operations in China, while export controls on critical minerals could disrupt supply chains for U.S. high-tech industries.
China has retaliated against new tariffs imposed by United States President Donald Trump on Chinese products. China announced a 15% tariff on U.S. coal and liquefied natural gas, and a 10% tariff on crude oil, agricultural machinery, and large-engine cars. Additionally, China's State Administration for Market Regulation launched an antitrust investigation into Alphabet Inc., citing concerns over its Android operating system practices. The Commerce Ministry also placed PVH Corp. and Illumina on an 'unreliable entities list' due to alleged 'improper Xinjiang-related behavior' and other business practices, which could restrict their operations and investments in China. Furthermore, China announced export controls on several critical minerals, including tungsten, tellurium, bismuth, molybdenum, and indium, which are essential for U.S. economic and national security. These actions mark an escalation in the ongoing trade dispute between the two nations, with analysts warning of potential negative impacts on global GDP growth, U.S. inflation, and interest rates.
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