In a significant move affecting the global economic landscape, China has retaliated against the United States by imposing new tariffs following the U.S.’s recent tariff hikes on Chinese goods. Announced immediately after the U.S. measures came into effect on February 4, 2025, China’s tariffs include a 15% levy on coal and liquefied natural gas and a 10% tariff on crude oil and agricultural machinery, targeting vital American industries. Furthermore, China has introduced export controls on key minerals such as tungsten and molybdenum, which play a critical role in U.S. high-tech manufacturing. Additionally, China has launched an antitrust probe into Google and placed major American firms on an “unreliable entities list.” These steps are viewed as strategic maneuvers to enhance China’s negotiating position in ongoing trade talks amidst rising tensions, setting the stage for potential global economic disruptions. President Trump and Chinese President Xi Jinping are expected to engage in critical dialogue to address these emerging challenges.
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**US Declares National Emergency – Trump Imposes Tariffs on Major Allies**
**WASHINGTON, D.C., February 1, 2025** – President Donald Trump has ignited a global economic storm by declaring a national emergency and slapping significant tariffs on imports from some of the U.S.’s closest trading partners: Canada, Mexico, and China. Citing concerns over illegal migration and drug trafficking, Trump has implemented a 25% tariff on most Canadian and Mexican imports, except for a more lenient 10% on Canadian energy. Meanwhile, China faces a 10% tariff, exacerbating existing duties and threatening global trade dynamics. The controversial move has prompted a pledge of retaliation from Canadian Prime Minister Justin Trudeau and concerns over economic repercussions from Mexico. As the international markets reel, this development could redefine global trade alliances and commerce norms, posing both challenges and opportunities on the world stage.