China retaliates by imposing 34% tariffs on all US imports starting this date✍️👇👇👇
China announced on Friday that it would impose tariffs on all US imports, in response to US President Donald Trump's decision to impose comprehensive tariffs on several countries around the world.
China's Ministry of Finance said in a statement that Beijing will impose a 34% tariff on all US goods starting April 10.
The same statement explained that Beijing had previously imposed additional 15% tariffs on US products, including wheat and corn, on March 10.
In a related development, Beijing announced controls on exports of medium and heavy rare earth minerals to the United States, effective April 4.
"The Chinese government's implementation of export controls on relevant items in accordance with the law is to better protect national security and interests, and fulfill international obligations," the Ministry of Commerce said in a statement, adding 11 entities to its "unreliable entities" list, allowing Beijing to take punitive action against foreign entities.
The tariffs imposed by US President Donald Trump have raised fears of a global trade war, with more than 180 countries and regions finding themselves in the crosshairs of reciprocal tariffs. This move is part of Trump's policy aimed at protecting American industries from foreign competition, but it has faced harsh criticism from world leaders who have warned of negative repercussions for the global economy.
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