China hits back at Trump with tariffs on US coal, LNG, crude

Andrew Tillett, Jessica Sier, Matthew Cranston, Michael Read, Alex Gluyas and Angela Macdonald-Smith

Feb 4, 2025 – 5.09pm

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Canberra/Tokyo/Washington | Beijing has announced retaliatory tariffs on targeted US exports after Donald Trump vowed to push ahead with duties on Chinese goods, heightening fears of a wider trade war between the world’s two biggest economies that could have knock-on effects for Australia.

The benchmark S&P/ASX 200 closed lower and the Australian dollar fell as China announced it would target US coal, oil, and gas exports – a move that energy market analysts said would benefit Australian fossil fuel players in the short term.

Andrew Tillett writes on politics, foreign affairs, defence and security from the Canberra press gallery.

Jessica Sier is the North Asia Correspondent for The Australian Financial Review. She is based in Tokyo, Japan. Jessica has previously written on technology, global capital markets and economics.

Matthew Cranston is the United States correspondent, based in Washington. He was previously the Economics correspondent and Property editor.

Michael Read is the Financial Review's economics correspondent, reporting from the federal press gallery at Parliament House. He was previously an economist at the Reserve Bank of Australia and at UBS.

Alex Gluyas is a markets reporter based in our Melbourne newsroom.

Angela Macdonald-Smith writes on the resources industry with a focus on energy, including gas, oil, electricity and renewables.