China retaliates against US import tariffs

Almost everything we predicted in November has taken place, including China’s highly foreseeable retaliation against the US import tariffs President Trump enacted, which became effective this morning (Tuesday 4 February 2025).

The specific measures China has imposed include: A 15 per cent tariff on coal and liquefied natural gas; A 10 per cent tax on crude oil, agricultural machinery, pickup trucks and large-engine cars; and export controls on 25 types of rare metal products.