Trade tensions escalate as China retaliates against U.S. tariffs
In response to Donald Trump's decision, China announced 34% retaliatory tariffs on all goods imported from the USA. The President of the United States has already reacted.
What you should know:
- Donald Trump has introduced new tariffs on almost all countries in the world (except Russia), including China.
- China announced 34% retaliatory tariffs on all goods from the USA.
- Trump commented on Beijing's decision, stating that China made a mistake and "panicked."
U.S. President Donald Trump believes that China made a mistake by implementing 34% retaliatory tariffs on all U.S. imports starting April 10.
"CHINA PLAYED IT WRONG, THEY PANICKED - THE ONE THING THEY CANNOT AFFORD TO DO! ," Trump wrote on his profile on the Truth Social platform.
China implements retaliatory tariffs on goods from the USA
On Wednesday, Trump introduced new duties on goods imported into the USA, including from China, claiming he wanted to protect the American market. On Friday, Beijing authorities announced the implementation of retaliatory tariffs. The State Council approved the decision, which will take effect on April 10.
The State Council's Tariff Commission announced that an additional 34% tariff would be added to the existing tariff rate on goods from the USA. The exception will be goods shipped before April 10, which arrive in China by May 13. A statement from the Ministry of Finance emphasized that there will be no exemptions or reductions regarding the imposed tariffs.
The Ministry of Finance also urged US authorities to lift unilateral tariff measures and to resolve trade differences through consultations. According to the ministry, US tariffs are a "typical unilateral bullying practice," which violates international trade rules and harms the interests of China and the global economy.
The Chinese Ministry of Commerce announced the inclusion of 16 American entities on the export control list for national security reasons. Additionally, 11 US companies, including Skydio and BRINC Drones, were placed on an "unreliable entities list" for military cooperation with Taiwan, which Beijing sees as a violation of Chinese sovereignty.
The Ministry of Commerce and the General Administration of Customs also introduced export controls on seven rare-earth metals with civilian and military applications. This decision aims to protect China's national security and interests.
