In a recent move, China has announced a series of strong economic measures, indicating a rise in trade tensions with the U.S. Specifically, starting from February 10, 2025, Beijing will impose additional tariffs on various imported goods from the U.S. Coal and liquefied natural gas (LNG) will face the highest tariff of 15%, while crude oil, agricultural machinery, and large vehicles will incur a 10% tariff.
Alongside the tax increase, China is tightening its control over the export of strategic materials in the high-tech sector, such as tungsten, tellurium, bismuth, molybdenum, and indium—essential components in semiconductor manufacturing.
Pressure on U.S. tech companies is also mounting as the State Administration for Market Regulation (SAMR) in China launches an antitrust investigation targeting Google. Additionally, two companies, PVH Group and Illumina, Inc., have been blacklisted for alleged discriminatory practices that harm Chinese businesses.
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The cryptocurrency market has reacted swiftly to these new tensions. Bitcoin dropped from $102,000 to $98,000, despite a prior positive rebound from the $91,000 range due to news of the U.S. postponing tariffs on Mexico and Canada.
