With Donald Trump’s trade war well underway, Chinese officials have announced their own tariffs and formal response to Trump’s economic escalation.
The Lowdown
According to Chinese officials, tariffs on American imports followed Donald Trump’s escalation earlier this week. Reports say that China has slapped tariffs on coal, LNG, crude oil, and numerous other products. The announcement also doubled as an announcement of an anti-trust investigation into Google in the country. Moments after Tuesday’s tariffs took flight, China beat Trump to the punch.
Domestically per the same announcement, China has placed export controls on the following ‘critical items’ to prevent them from reaching America. They are tungsten, tellurium, ruthenium, molybdenum, and ruthenium-related items. Taking it even further two companies have been added to the country’s unreliable vendor list — they are: PVH Group and Illumina Inc. PVH Group is a clothing brand that owns brands like Tommy Hilfiger.