China investigate Google, impose Tariffs on U.S Goods
China announced on Tuesday that it would investigate Google for alleged anti-monopoly practices under antitrust laws.
According to a Google translation of the official statement, the State Administration for Market Regulation of the nation said it would launch an investigation into the tech giant due to suspected violations of China’s anti-monopoly law.
President Donald Trump reinstated a 10 percent tariff on Beijing-sourced goods, rekindling the trade war between the world’s biggest economies, China imposed tariffs on US goods and announced an investigation into Google.
The State Administration for Market Regulation said in a statement on Tuesday that China will investigate possible antitrust violations at the US tech giant.
Additionally, Beijing announced 10% taxes on US oil and agricultural equipment and 15% tariffs on coal and liquefied natural gas. Adding PVH Corp. and imposing export restrictions on materials related to tungsten are among the actions announced.
The offshore yuan lost ground in the afternoon as the US-China trade war deepened. Beijing announced 10% tariffs on certain American goods, adding the owners of Calvin Klein and Illumina to its list of untrustworthy entities. Amid the Lunar New Year holiday, the onshore market was closed, and the currency fell 0.3 percent to 7.3340 offshore.
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