China to levy tariffs of up to 15% on select U.S. imports starting Feb. 10 – CNBC

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The mainland’s markets, which have remained closed due to the weeklong Lunar New Year holiday, will resume trading Wednesday.China’s State Administration of Market Regulation also said it has decided to initiate an investigation into Alphabet’s Google as the American technology giant was suspected of violating the country’s anti-monopoly law.Google pulled its internet and search engine services in China in 2010, but still has some operations focused on Chinese businesses looking to advertise on Google platforms abroad.”These moves are warnings that China intends to harm US interests if need be but still give China the option to back down,” Julian Evans-Pritchard, head of China economics at Capital Economics, said in a note.Pritchard acknowledged that the tariffs proposed by China could be postponed or canceled before they come into effect next Monday, and the Google investigation could end without any penalties.U.S. President Donald Trump on Monday agreed to a 30-day pause on the implementation of the planned 25% tariffs on imports from Canada and Mexico, as the two countries agreed to take steps to prevent the illicit drug trafficking of fentanyl into the U.S.China, however, did not get any such reprieve.”The overarching geo-economic dimensions to U.S.-China trade means that resolution will be far more fraught than is the case with Mexico and Canada,” said Vishnu Varathan, head of macro research for Asia ex-Japan at Mizuho Bank.As Trump started his second term, he ordered his administration to investigate Beijing’s compliance with a trade deal struck during his first presidency in 2020. The final result of the assessment will be delivered to Trump by April 1, potentially setting the stage for further tariff actions, economists said.White House press secretary Karoline Leavitt reportedly said Monday that Trump and Chinese president Xi Jinping could talk “in the next couple of days.”Trump on Saturday signed an order imposing the long-threatened 10% tariffs against China on top of the existing tariffs of up to 25% on Chinese goods levied during his first presidency.The additional duties would reduce China’s real gross domestic product growth by 50 basis points this year, economists at Goldman Sachs said in a report Monday, reinforcing calls for stronger domestic stimulus measures to offset impacts from the rising tariffs.The investment bank expects China’s real GDP growth to slow to 4.5% this year and domestic consumer inflation to rise just 0.4% due to weak demand and a prolonged real estate crisis.Correction: Trump on Saturday signed an order imposing the long-threatened 10% tariffs against China. An earlier version misstated the action.Got a confidential news tip? We want to hear from you.Sign up for free newsletters and get more CNBC delivered to your inboxGet this delivered to your inbox, and more info about our products and services.© 2025 CNBC LLC. All Rights Reserved. A Division of NBCUniversal
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Source: https://www.cnbc.com/2025/02/04/china-levies-tariffs-on-select-us-imports-starting-feb-10.html