China has announced new measures targeting US businesses, including Google, farm equipment manufacturers, and PVH Corp, the owner of Calvin Klein and Tommy Hilfiger. The move follows Washington’s latest tariffs on Chinese imports.
According to Reuters, Beijing has placed PVH and US biotech firm Illumina on its “unreliable entity” list, accusing them of discriminatory practices against Chinese companies. Firms on this list face sanctions, trade restrictions, and potential fines.
China’s antitrust regulator has also launched an investigation into Google for alleged violations of competition laws. Meanwhile, 10 per cent tariffs will be imposed on US farm machinery and certain vehicles, potentially affecting Tesla’s Cybertruck.
The new tariffs take effect on 10 February, escalating tensions between the world’s two largest economies.