China announced its retaliatory actions moments after the new US tariffs of 10% on products from the country came into effect.
What just happened? China has retaliated against the new trade tariffs imposed on the country by announcing a series of measures against US businesses. These include an antitrust investigation into Google and placing American firms on its unreliable entity list. The US also removed an exemption that previously allowed Chinese imports valued under $800 to enter tariff-free. This will have a major impact on Temu, Shein, and other companies that rely on the loophole. The most notable response is the investigation into Google. The country's State Administration for Market Regulation said it initiated the investigation due to alleged violations of China's anti-monopoly law. Google largely left China in 2010 over censorship concerns. The company's Search, Gmail, YouTube, and Play services remain blocked in the Asian nation, but it still operates some business operations, such as hardware sales and AI…