Beijing: China has announced retaliatory tariffs on U.S. imports, imposing 15 percent duties on coal and liquefied natural gas, along with 10 percent tariffs on crude oil, agricultural machinery, large-displacement vehicles, and pickup trucks. These countermeasures come in response to the 10 percent tariffs imposed by Washington over the weekend on Chinese goods.

The Chinese Ministry of Finance stated that these actions were necessary due to the "unilateral tariff hike" by the U.S., which it claims violates WTO rules and disrupts economic cooperation between the two nations. The new tariffs will come into effect next Monday.

Trump's Tariffs and Global Reaction
U.S. President Donald Trump announced broad tariff measures on Saturday, targeting China, Canada, and Mexico. He justified the move as a way to pressure countries to curb the flow of illegal migrants and fentanyl into the U.S.. However, China argued that these tariffs do nothing to address domestic U.S. issues and only escalate trade tensions.

Canada and Mexico Secure Temporary Relief
Meanwhile, Canada and Mexico managed to pause the tariffs on their exports by reaching last-minute border security agreements with the U.S. Mexican President Claudia Sheinbaum and Canadian Prime Minister Justin Trudeau pledged to tighten their borders against migration and fentanyl trafficking, leading Trump to delay imposing 25 percent tariffs on their goods for 30 days.

Following the news of the paused tariffs, Asian stock markets surged amid hopes of similar negotiations with China. However, traders scaled back their optimism as Beijing confirmed its retaliatory measures.

Canada and U.S. Trade Tensions Escalate
While Mexico reached an agreement swiftly, tensions between the U.S. and Canada remained high. Trump stated that Trudeau agreed to increase security at the northern border, combat drug trafficking, and appoint a “Fentanyl Czar”. However, critics question the real impact of these measures, noting that Canadian authorities already have 8,500 personnel deployed for border security.

The tariff dispute fueled anti-U.S. sentiment in Canada, with Canadians boycotting American products, canceling trips, and even booing the U.S. national anthem at sporting events. In retaliation, Ontario barred U.S. firms from bidding on government contracts and canceled a deal with Elon Musk’s Starlink.

Political Fallout and Trump's Bold Statements
The crisis led to a political shake-up in Canada, with Trudeau announcing his resignation, triggering potential early elections in April. Meanwhile, Trump reignited controversy by suggesting Canada should become the 51st U.S. state, further straining relations.

Mexico, facing its own challenges, has come under heavy U.S. pressure to curb illegal migration. Trump remains steadfast in his tariff policies, declaring that "tariff" is the most beautiful word in the dictionary." While he insists that foreign exporters will bear the cost, economic experts warn that American consumers will ultimately feel the financial strain.

Returning from a weekend at his Florida resort, Trump admitted that Americans "might feel economic pain" due to his aggressive tariff stance. However, at 78 years old, the billionaire president appears determined to push forward with even stronger protectionist policies in his second term.