China retaliates with 34% tariffs amidst Trump's global trade conflict
China announced that starting 10th April, they will impose 34% tariffs on all American goods in response to new tariffs imposed by President Donald Trump. The Ministry of Finance in Beijing urged the USA to remove unilateral tariffs and resolve trade disputes through consultations.
The Chinese Ministry of Finance announced that from midnight on 10th April 2025, they will impose 34% tariffs on all American goods imported into China. This is a response to recent decisions by President Donald Trump's administration, which implemented similar tariffs on Chinese products. Following these actions, the total tariffs imposed by the USA on goods from China have increased to 54%.
"China urges the United States to immediately cancel its unilateral tariff measures and resolve trade differences through consultation in an equal, respectful and mutually beneficial manner," – stated the Chinese ministry.
The authorities in Beijing accused the USA of "typical unilateral bullying" related to these actions. Besides imposing a 34% tariff, Trump charged Chinese imports with additional fees, thereby increasing the total import costs from China, reports CNBC.
Trump announces tariffs on the entire world
Donald Trump announced on Wednesday, during "Liberation Day," retaliatory tariffs on the entire world: 10% on all imports and 25% on foreign cars. He presented a list of countries and the tariff rates they would incur - in the case of the European Union, it will be 20%.
The basic 10% tariffs on products from all countries will take effect on 5th April, and additional tariffs on goods from specific countries on 9th April.
The White House informed CNBC on Wednesday that a new reciprocal tariff rate on China will be added to the existing tariffs totalling 20%. This means the actual tariff rate on Beijing during Trump's term will be 54%.
