China Retaliates; Canada, Mexico Tariffs on 30-Day Delay – RVBusiness – Breaking RV Industry News
BEIJING — China countered President Donald Trump’s across-the-board tariffs on Chinese products with tariffs on select U.S. imports Tuesday, as well as announcing an antitrust investigation into Google and other trade measures, according to an Associated Press report.
U.S. tariffs on products from Canada and Mexico were also set to go into effect Tuesday before Trump agreed to a 30-day pause as the two countries acted to appease his concerns about border security and drug trafficking. Trump planned to talk with Chinese President Xi Jinping in the next few days.
The Chinese response was “measured,” said John Gong, a professor at the University of International Business and Economics in Beijing. “I don’t think they want the trade war escalating,” he said. “And they see this example from Canada and Mexico and probably they are hoping for the same thing.”
This isn’t the first round of tit-for-tat actions between the two countries. China and the U.S. had engaged in a trade war in 2018 when Trump raised tariffs on Chinese goods and China responded in kind.
This time, analysts said, China is much better prepared to counter, with the government announcing a slew of measures that cut across different sectors of the economy, from energy to individual U.S. companies.
Click here to read the full Associated Press report.
