Michaela
China has quickly retaliated against the newly imposed trade tariffs by the United States, announcing its own set of tariffs on various American goods just moments after the U.S. measures took effect.
On Tuesday, a 10% tariff on all Chinese imports to the United States was activated, as announced by President Donald Trump. In response, China’s Ministry of Finance outlined new measures, including a 15% tariff on certain types of coal and liquefied natural gas, along with a 10% levy on crude oil, agricultural machinery, large-displacement vehicles, and pickup trucks.
In addition, China’s Ministry of Commerce and Customs Administration introduced immediate export controls on over two dozen metal products and associated technologies. These include tungsten, a key mineral widely used in industrial and defense sectors, as well as tellurium, a material essential for manufacturing solar cells.
The Ministry further revealed that two American companies — Illumina, a leading biotech company, and PVH Group, which owns Calvin Klein and Tommy Hilfiger — have been placed on its “unreliable entities list” for reportedly violating normal market practices.
Companies placed on China’s Unreliable Entity List may be subject to financial penalties, as well as limitations on their ability to conduct trade and invest within the country.
Moreover, China’s Ministry of Commerce and Customs Administration has implemented export restrictions on key minerals, including tungsten, tellurium, ruthenium, and molybdenum. The government emphasized that these measures are critical to “safeguard national security interests.” According to the ministry’s statement, the new tariffs will take effect on February 10.
China to Probe Google
Although President Trump postponed his proposed 25% tariffs on Mexico and Canada after gaining border security commitments, he did not offer similar leniency to China.
A spokesperson from the White House stated that President Trump has no scheduled discussions with Chinese President Xi Jinping at this time, though a conversation may happen later in the week.
Concurrently, China initiated an antitrust investigation into Google, signaling potential retaliation against U.S. companies as trade tensions escalate. The inquiry was announced shortly after Washington’s latest tariffs on Chinese goods took effect.
As trade restrictions intensify on both sides, the latest measures signal a sharp escalation in the U.S.-China trade dispute, fueling concerns over potential disruptions to global markets.
Crypto Prices Affected By Trumps Tariffs
Cryptocurrency markets saw a significant downturn after President Trump announced new tariffs on imports from Canada, China, and Mexico, fueling investor uncertainty.
However, the crypto market staged a strong recovery after the U.S. announced a delay in tariffs on Mexico, alleviating investor fears over rising trade tensions.
Bitcoin (BTC) briefly surpassed $102,500, while Ethereum (ETH) rallied to $2,900, rebounding sharply after a period of heightened volatility. This spike followed President Trump’s announcement of a 30-day delay on the proposed tariffs for Mexico and Canada.
The move eased market uncertainty, boosting investor confidence and fueling renewed demand for risk assets, including cryptocurrencies.
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Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.
