China Strikes Back: New Tariffs and Antitrust Probes Amid US Tensions

China has responded to US tariffs under President Trump with its own tariffs on US imports and announced an antitrust investigation into Google. This escalating trade dispute could significantly impact economic cooperation, with both countries prepared for further tit-for-tat actions.

In a bold counter-move against US tariffs imposed by President Donald Trump, China has announced its own set of tariffs targeting multiple American imports and revealed an antitrust probe into tech giant Google.

Alongside tariffs on Canadian and Mexican products, the US's latest tariffs have prompted China to impose a 15% tariff on coal and liquefied natural gas products and a 10% tariff on crude oil, agricultural machinery, and large-engine cars imported from the US.

Analysts suggest this could mark the beginning of an intensifying trade war reminiscent of 2018, with potential repercussions for global GDP growth, inflation, and US interest rates.