China has announced its own tariffs on some U.S. products in response to U.S. tariffs on Chinese goods. On February 1, 2025, Washington, D.C. imposed a 10% tariff on all Chinese imports which will take effect to February 4, 2025.

Beijing retaliated with levies on U.S. goods which includes a 15% tariff on U.S. coal and liquefied natural gas (LNG) and a 10% tariff on crude oil, agricultural equipment, pick-up trucks and high transmission vehicles, effective from February 10, 2025.

This is a strategic move and response to the U.S. tariffs, with the aim to protect China’s domestic industries and assert Beijing’s stance in the ongoing trade war. However, Analysts suggest that this tit-for-tat approach could further strain the already fragile economic relations between the two countries, with potential ripple effects on global markets.