China Declares 34% Retaliatory Tariffs On US Imports

China has declared its intention to implement additional tariffs of 34 percent on imports from the United States, responding to similar duties introduced by President Donald Trump this week as part of his assertive trade policy.

The Ministry of Commerce announced on Friday (today) that this tariff will apply to all goods imported from the US, effective April 10.

According to the Financial Times on Friday, tariffs on Chinese exports are expected to exceed 60 percent following the US president’s announcement of “reciprocal” tariffs of 34 percent, which will be added to existing tariffs.

Beijing has criticized the new US tariffs as “a typical unilateral bullying tactic” that “violates international trade regulations and significantly undermines China’s legitimate rights and interests.”

Beijing’s Ministry of Commerce has enacted export restrictions on seven rare earth elements, including gadolinium, which is frequently utilized in magnetic resonance imaging, and yttrium, a component in consumer electronics.

Additionally, China plans to initiate a lawsuit with the World Trade Organization (WTO) regarding tariffs, as stated by the ministry.

Naija News reports that this week, U.S. President Donald Trump sparked the potential for a damaging global trade conflict by imposing a 10 percent tariff on imports from various countries, along with severe additional duties on major trading partners.

Trump announced particularly severe tariffs of 34 percent on China, one of the United States’ largest trading partners, in addition to existing tariffs.

In response, China promptly pledged to implement “countermeasures” to safeguard its rights and interests.