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China realized oil tariffs would be like holding a gun to its own head

By Josh Siegel
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China realized oil tariffs would be like holding a gun to its own head

China abruptly changed course Wednesday and removed oil from a list of American products it is subjecting to tariffs, as the energy-hungry country acknowledged the limits on trade war losses it can absorb.

Beijing announced on Wednesday that it would impose retaliatory 25 percent tariffs on $16 billion worth of U.S. imports, a response to the Trump administration after it issued similar tariffs against China on Tuesday.

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Air Pollution China Coal Natural Gas Oil Tariffs Trade