Part 6/15:
This policy revival echoes the tariffs introduced in 2018, which targeted Chinese excess manufacturing but eventually included a patchwork of exemptions. The Biden administration, which Trump also targeted with tariffs, has responded with its own retaliations. China swiftly retaliated against the U.S., imposing tariffs of 10-15% on American exports including crude oil, natural gas, and agricultural machinery, in what officials describe as a tit-for-tat escalation. China also launched an antitrust investigation into Google, blacklisted more U.S. firms, and tightened controls on exports of rare earth minerals—critical components for technology and defense industries.