To Wang, the moves were “largely symbolic” as the move would only affect some 12% of total imports from the US.
China’s countermeasures against the US’s tariffs were less than expected by Morningstar Asia equity market strategist, Kai Wang.
On Feb 4, China issued its own set of levies against US goods in retaliation to US President Donald Trump’s tariffs. Beijing imposed a 15% levy on US coal and liquefied natural gas (LNG) as well as a 10% tax for crude oil, farm equipment and certain vehicles including trucks and big-engine sedans from the US.
