China starts investigation against Google and impose Tariffs on US products after Trump slapped 10% tariff on goods from Beijing. The action of China Imposes Retaliatory Tariffs on America starts a trade war between the largest economies of the world.
According to statements release on Tuesday, China starts the anti-trust probe against Google. Beijing also declare the 15% levies on coal and liquefied natural gas and 10% on agriculture and oil equipment from US.
China Imposes Retaliatory Tariffs on America Impacts trade cooperation
On this, China’s Finance Ministry state that, “US imposition of tariffs violates the rules of World Trade Organization.”. It marks the normal economic and trade cooperation between the US and China. The action taken by China came as soon as US tariffs kicked in. It is related with situations in Canada and Mexico, where both countries won reprieve from 25% tariffs for month after reach to agreements with Trump. On order release on Saturday, Trump called on China’s Communist Party to end criminal organizations that cause the flow of illicit drugs.
How probe against Google impact trade relations
The actions taken by China against Google consists
- Export control on tungsten-related materials
- Adding PVH Corp, Illumina Inc, and owner of Calvin Klein to entity list
The dollar rebounded with yuan, and increase loss to 0.3%, whereas the currencies of New Zealand and Australia, having strong trade links with China, slid to 1%. Other Asian currencies like Indonesian rupiah and Thai baht also pared their gains.
The google and internet services for customers are not available in China since 2010, still company have perform operations in country, around advertising business. US supplied around 6% of China LNG’s imports last year, as per ship tracking data. The orders consists clauses on China Imposes Retaliatory Tariffs on America, and increase tariffs if the countries responded to it.
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