February 4, 2025 – In a swift retaliation to US imposition of duties on Chinese goods, China has slapped tariffs on US imports. This has ignited a trade war between the two economic giants.

US President had over the weekend imposed an additional 10% tariff across all Chinese imports into the US to punish China for not preventing the flow of fentanyl, a deadly opioid, into the US. He had warned the tariffs will increase further if this is not halted.

Within minutes of Trump’s action, China's Finance Ministry announced an imposition of 15% duties on US coal and LNG and 10% for crude oil, agricultural equipment and some autos with effect from February 10.

China’s State Administration for Market Regulation also announced a probe into Google for alleged anti-trust violations,

Meanwhile, the US President announced yesterday he would hold back the imposition of 25% duties on Mexico and Canada for 30 days on the condition of concessions on border and crime enforcement with the two countries.