China says to slap extra 34 pct tariffs on US imports
by BP Editor 10 · Borneo Post OnlineBEIJING (April 4): China said today it would slap 34 per cent tariffs on all imports of US goods from April 10 after Washington imposed steep new levies on Chinese products.
“For all imported goods originating from the US, an additional tariff of 34 per cent on top of the current applicable tariff rate will be imposed,” Beijing’s finance ministry said.
Beijing’s Commerce Ministry also imposed export controls on seven rare earth elements, including gadolinium — commonly used in magnetic resonance imaging — and yttrium, which is used in consumer electronics.
China will also file a lawsuit with the World Trade Organisation (WTO) over tariffs, the ministry said.
US President Donald Trump ignited a potentially ruinous global trade war this week by imposing 10 per cent levies on imports from around the world and harsh extra duties on key trading partners.
Trump unveiled particularly stinging tariffs of 34 per cent on China, one of its largest trading partners, on top of existing levies.
China swiftly vowed “countermeasures” to protect its rights and interests. – AFP