China hits back with its own tariffs
Marketplace All-in-One
Marketplace
4.5 • 1.4K Ratings
🗓️ 4 February 2025
⏱️ 6 minutes
🧾️ Download transcript
Summary
From the BBC World Service: After President Donald Trump slapped a fresh 10% levy on exports to the U.S. — that’s on top of an existing raft of tariffs — China has brought in some tariffs of its own. China’s government is also going to investigate Google’s activities there. Meanwhile, Canada and Mexico are off the tariff hook (for now). And, Panama has pulled out of China’s Belt and Road Initiative.
Transcript
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| 0:00.0 | China hits back with its own tariffs. |
| 0:04.0 | Life in the UK, this is the Marketplace Morning Report from the BBC World Service. |
| 0:08.7 | I'm Leanna Byrne. Good morning. |
| 0:10.5 | Well, China was never going to take this lying down after President Trump slapped a fresh 10% levy on exports to the US. |
| 0:18.4 | Remember, there's already a raft of sanctions and taxes on trade between them. |
| 0:22.3 | Beijing brought in some extra tariffs of its own, but that's not all. |
| 0:26.0 | It's also going to investigate Google's activities in China and put PVH Corp, |
| 0:30.4 | that's the holding company for brands like Calvin Klein and Tommy Hilfiger, |
| 0:34.1 | plus US biotechnology firm Illumnia on its unreliable entity list. The BBC's correspondent |
| 0:40.5 | in Beijing, Laura Bicker has more. Now they have come out and issued this levy 15% on US imports |
| 0:48.8 | of coal and liquefied natural gas and 10% on the likes of agricultural machinery and large US cars and trucks. |
| 0:57.9 | To me, when you're looking at it, they're not big purchasers of these products in terms of |
| 1:03.4 | certainly large agricultural machinery and large trucks and cars. |
| 1:06.8 | Chinese people tend to buy their own electric vehicles here in the country. |
| 1:12.1 | But when it comes to what this signifies, this is them hitting back. |
| 1:16.9 | This is them deciding here in China that this could spark a tit-for-tatted trade war. |
| 1:22.7 | And that's the threat that Beijing is laying down at Washington's feet. |
| 1:26.8 | That was Laura Bicker. So what's the |
| 1:28.4 | view from China? Henry Wang is founder and president of the Centre for China and Globalisation |
| 1:33.0 | and a former advisor to China's State Council. Certainly they have to respond. But I think |
| 1:40.0 | the respond was really restricted and limited. It was really just on some categories and also |
| 1:46.4 | certain companies. So I think there's still chance. You know, President Trump also said he wants |
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