April 7, 2025--Written by Daniel Graeber for Industrial Info Resources (Sugar Land, Texas)--What could be the start of an all-out global trade war pushed U.S. crude oil prices to levels not seen since the pandemic after the Organization of Petroleum Exporting Countries (OPEC) opted to raise production and China hit back hard against U.S. President Donald Trump's trade policies. China on Friday said it would impose a 35% tariff on products imported from the United States on April 10, mirroring U.S. tariffs on imports from the world's second-largest economy. The official Xinhua News Agency cited a statement from the Customs Tariff Commission that said the announcement was in response to so-called reciprocal tariffs imposed by the United States.
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