China has introduced tariffs on specific American goods and announced export controls on critical minerals, intensifying the trade conflict with the United States. This move could disrupt supply chains and increase costs for U.S. companies involved in importing and exporting goods.
The New Jersey Business & Industry Association (NJBIA) and the National Association of Manufacturers are requesting feedback from New Jersey business owners regarding the impact of these new tariffs on Chinese goods, as well as those temporarily paused on Canadian and Mexican imports. Businesses are encouraged to complete an online survey by Friday.
President Donald Trump agreed to delay a 25% tariff on imports from Canada and Mexico for 30 days. However, a 10% tariff on Chinese goods was implemented as planned, prompting China to announce retaliatory measures.
Starting February 10, China will impose a 15% tax on coal and liquefied natural gas products, along with a 10% tariff on crude oil, agricultural machinery, and large-engine vehicles imported from the U.S. Additionally, China has imposed immediate export restrictions on minerals such as tungsten, tellurium, bismuth, molybdenum, and indium—materials essential for industrial applications in defense, clean energy, and advanced technology manufacturing.
The Associated Press reports that China is also launching an antitrust investigation into Google while placing PVH Group (owner of Calvin Klein and Tommy Hilfiger) and biotech company Illumina on its "unreliable entities" list. Companies listed may face bans from trading or investing in China.
President Trump expressed no urgency to discuss de-escalation with China's leader Xi Jinping during remarks made in the Oval Office.
