China Imposes 34% Tariffs on All US Imports in Response to Trade Disputes
In response to escalating trade disputes, China has announced a sweeping 34% tariff on all imports from the United States, set to take effect on April 10.
This decision, made by China’s Ministry of Finance, is a direct response to President Donald Trump’s recent increase in tariffs on Chinese products. This move has reignited fears of a full-blown trade war between the two largest global economies.
“The purpose of the Chinese government’s implementation of export controls on relevant items in accordance with the law is to better safeguard national security and interests, and to fulfill international obligations such as non-proliferation,” the Commerce Ministry stated.
The new tariffs will impact a wide range of American exports, including agriculture, manufacturing, technology, and energy sectors. Beijing’s measures will now target U.S. products such as soybeans, semiconductor manufacturing equipment, auto parts, and high-end goods.
The Finance Ministry has confirmed that these tariffs are a retaliatory measure against Trump’s tariffs and will be in addition to existing tariffs on U.S. goods.
In addition to tariffs, Beijing has also imposed restrictions on the export of medium and heavy rare earth elements, including samarium, gadolinium, terbium, and dysprosium.
Global markets have been rattled by Trump’s tariffs, resulting in a $2.4 trillion loss in U.S. stocks and prompting other governments to consider retaliatory measures.
