China hits back with tariffs on US products and Google investigation
6:25am
Traditional Russian wooden dolls called Matryoshka depicting China's President Xi Jinping, left, and US President Donald Trump are on sale at a souvenir shop in St. Petersburg
China announced retaliatory tariffs on select US imports and an antitrust investigation into Google overnight, just minutes after a sweeping levy on Chinese products imposed by US President Donald Trump took effect.
American tariffs on imports from Canada and Mexico were also set to go into effect before Trump agreed to a 30-day pause, as the two countries acted to address his concerns about border security and drug trafficking.
Trump planned to talk with Chinese President Xi Jinping in the next few days
This isn't the first round of tit-for-tat actions between the two countries. China and the US engaged in an escalating trade war in 2018, when Trump repeatedly raised tariffs on Chinese goods and China responded each time.
This time, analysts said, China is much better prepared, announcing a slew of measures that go beyond tariffs and cut across different sectors of the US economy. The government is also more wary of upsetting its own fragile and heavily trade-dependent economy
