China’s retaliatory tariffs on US goods comes into effect: Report

The tariffs were imposed on a range of goods, including LNG, crude oil, coal, farm equipment and other items.

China’s retaliatory tariffs on US goods have come into effect, its embassy in Washington said in a statement on Sunday, the Financial Times reported.

The tariffs will hit $14 billion worth of goods and hopes to avoid trade war escalation between the largest two economies of the world.

The tariffs were imposed on a range of goods, including LNG, crude oil, coal, farm equipment and other items. The announcement by Beijing came immediately after President Donald Trump said US government will impose a 10 percent tariff on all Chinese goods, reigniting the trade war between the two rivals.

Beijing had also announced an investigation into Google by an anti-monopoly regulator in an apparent retaliatory move.

However, it was believed that China’s move left some space for negotiation with Washington to deescalate tensions. But there was no agreement before the deadline on Sunday and the tariffs came into effect at 11:01 am Washington DC time, the FT report said.