China announced fresh tariffs on U.S. goods after U.S. levies took effect, signaling a possible escalation in trade tensions between the two largest global economies. Starting February 10, the country will impose an additional 15% tariff on coal and liquified natural gas from the U.S., and 10% on crude oil, agricultural machinery, and certain automobiles. Chinese authorities also plan to introduce export controls on critical minerals. Markets reacted cautiously to the announcements. The offshore yuan remained stable against the dollar, but concerns over prolonged tensions persist.
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