China Hits U.S. With Retaliatory Tariffs After Canada, Mexico Cave To Trump | Eastern NC Now

    Publisher's Note: This post appears here courtesy of the The Daily Wire. The author of this post is Zach Jewell.

    China responded on Tuesday to President Donald Trump's 10% tariffs on Chinese goods with its own tariffs on multiple imports from the U.S.

    The communist country's Finance Ministry announced that U.S. coal and liquefied natural gas will be hit with a 15% tariff while crude oil, agricultural machinery, and some vehicles will face 10% tariffs, CNBC reported. Trump's tariffs on Chinese imports to the U.S. went into effect on Tuesday, and China's tariffs are set to begin on February 10.

    China said that Trump's move "seriously violates the rules of the World Trade Organization" and "destructs the normal bilateral economic and trade activities." The Chinese Commerce Ministry also announced on Tuesday that it would impose export controls on technologies related to critical minerals, according to CNBC. Trump will likely speak to Chinese President Xi Jinping later on Tuesday, Fox Business reported.

    The tariffs' impact on Chinese markets will not be noticeable until Wednesday, as the country's markets are closed on Tuesday for Lunar New Year celebrations. At the opening bell at the New York Stock Exchange on Tuesday, the Dow Jones, S&P 500, and Nasdaq Composite showed little change after recovering from Monday's dips.

    Over the weekend, the White House released a fact sheet detailing Trump's tariffs on China, Canada, and Mexico. The president said the tariffs would be used as "leverage" to get the three countries on board with Trump's desire to stop the flow of illegal immigrants and drugs through U.S. borders.

    On Monday, both Mexico and Canada caved to Trump's pressure and announced that more troops and resources would be sent to the border to tighten security. U.S. tariffs on Canada and Mexico - and the two countries' retaliatory tariffs on America - are paused for 30 days while the neighboring nations continue negotiations.


    "As President, it is my responsibility to ensure the safety of ALL Americans, and I am doing just that. I am very pleased with this initial outcome, and the Tariffs announced on Saturday will be paused for a 30 day period to see whether or not a final Economic deal with Canada can be structured. FAIRNESS FOR ALL!" Trump wrote after Canadian Prime Minister Justin Trudeau announced that Canada would "ensure" tighter security at its border with the U.S.

poll#218

Now that President Trump is picking his cabinet and immediate staff to insulate him from the poor judgement of the Bureaucratic Class, while moving quickly to transition this Constitutional Republic unto a wise and sustainable direction: What is your immediate impression as to how our nation will prosper?

  We are headed toward a Golden Age in America's self-governed society.

  This will all wind up in a clustered mess since Trump is a Fascist, and thought to be the second coming of Adolf Hitler by our best journalists.

  This is a time where critical days lay ahead, where only wise and responsible decisions must be made to sustain US.

  I generally do not pay attention, but expect only the best to occur ... and that is what I always expect.

160 total vote(s)     What's your Opinion?