What do China’s new tariffs on U.S. imply for customers | EUROtoday
President Donald Trump introduced tariffs on the U.S.’s three largest buying and selling companions — whereas two nations have made agreements with Trump, the third imposed retaliatory levies.
Trump signed an government order imposing hefty tariffs on Mexico, Canada, and China. After speaking to the leaders of Mexico and Canada, he agreed to droop the tariffs for 30 days. China is a distinct story.
China’s international ministry introduced Tuesday it could impose 15 p.c tariffs on coal and liquefied pure fuel and 10 p.c tariffs on oil, agricultural tools and large-engine vehicles imported from the U.S. beginning February 10.
China retaliated after Trump’s 10 p.c tariffs on the nation went into impact Tuesday morning.

Here’s how China’s new tariffs might affect U.S. customers.
China’s retaliatory tariffs are rigorously calculated and will not largely affect the U.S. economic system but — however China could be getting began, consultants warned.
“As far as I can see so far, it’s a relatively limited response, affecting no more than 30 percent of U.S. exports to China,” Bert Hofman, a former World Bank official, instructed the New York Times. “They’re probably trying to keep their powder dry, because this could still be only the first step from the Trump administration.”
China’s tariffs are “largely symbolic, Tianchen Xu, an economist at the Economist Intelligence Unit in Beijing told NBC News. These levies apply to only 8.5 percent of all Chinese imports from the U.S. last year, Xu said.
For example, China’s tariffs on liquefied natural gas and oil imported from the U.S. may not have too much of an effect in the U.S.
The U.S. exported 173,247 million cubic feet of liquefied natural gas to China in 2023, making up just 2.3 percent of its total natural gas exports that year, according to the U.S. Energy Information Administration.

Similarly, the new levies aren’t likely to take a huge hit on the car manufacturing industry, as China only imported about 700,000 cars last year, Bill Russo, the founder of the Automobility Limited consultancy in Shanghai, told the Associated Press.
But the tariffs also announced export controls on five metals: tungsten, tellurium, bismuth, indium and molybdenum-related products.
Most of these minerals are considered “critical minerals,” important to the nation’s nationwide safety, economic system, renewable vitality improvement and infrastructure, in keeping with the U.S. Geological Survey. They are key to creating smartphones, electrical autos and photo voltaic panels.
Cellphones is also hit by Trump’s tariffs. Smartphones, laptops and tablets are anticipated to extend in value as a result of U.S.’s tariffs on China, in keeping with the Consumer Technology Association.
Other consultants predicted an unstable market within the wake of the tariffs.
“China announced an increase in tariffs on some imported goods from the United States, raising market concerns about a worsening trade war between China and the U.S.,” Kenny Ng of the Hong Kong-Based Brokerage China Everbright Securities International also told the outlet.
“In the quick time period, China and the U.S. will have interaction in consultations, and the associated uncertainties might proceed to bother the market. However, as this issue steadily turns into clearer, I consider the funding market is more likely to emerge from the shadow of the China-U.S. commerce battle,” Ng continued.
In quick, the “tit-for-tat” tariffs are more likely to hurt each nations.

Both nations’ GDPs would endure if Trump’s 10 p.c tariffs have been met with retaliatory tariffs from China, in keeping with an evaluation by economists on the Peterson Institute for International Economics, carried out earlier than both tariffs have been carried out. The U.S. GDP would shrink by $55 billion Trump’s second time period whereas China’s GDP would shrink by $128 billion.
Inflation would additionally enhance in each nations, the evaluation predicted.
“A risk is that this is the beginning of a tit-for-tat trade war, which could result in lower GDP growth everywhere, higher U.S. inflation, a stronger dollar and upside pressure on U.S. interest rates,” Stephen Dover, chief market strategist and head of monetary agency Franklin Templeton Institute, instructed the Associated Press.
Trump is planning to speak with Chinese President Xi Jinping within the coming days.
https://www.independent.co.uk/news/world/americas/us-politics/china-retaliatory-tariffs-us-consumers-b2692035.html