China announced on Friday that it will impose a 34% tariff on all U.S. imports starting April 10, in response to a similar move by U.S. President Donald Trump. The Chinese Ministry of Finance stated that the new duties will be added on top of existing tariffs.
Additionally, China’s Ministry of Commerce introduced export restrictions on seven rare earth elements, including gadolinium and yttrium, vital for electronics manufacturing. Eleven U.S. companies were also blacklisted, effectively barring them from doing business in or with China.
Beijing confirmed it will file a complaint against the U.S. at the World Trade Organization.
The move follows President Trump’s imposition of a 10% tariff on global imports and an additional 34% tariff targeting Chinese goods, escalating what many see as a potentially damaging global trade war.
