US President Donald Trump had on Wednesday slapped 34% reciprocal tariffs on China
GUWAHATI, April 4: Days after Donald Trump announced reciprocal tariffs on several countries, including China, Beijing on Friday announced it will impose additional tariffs of 34% on all US goods starting April 10.
French news agency AFP reported that Beijing has also announced controls on exports of medium and heavy rare earths — materials that are used in high-tech products such as computer chips and electric vehicle batteries — from today (April 4).
“The purpose of the Chinese government’s implementation of export controls on relevant items in accordance with the law is to better safeguard national security and interests and to fulfill international obligations such as non-proliferation,” China’s commerce ministry said in a statement.
Trump had on Wednesday announced a minimum tariff of 10% on imports, with the tax rate running much higher on products from certain countries, including China which has been slapped with 34% tariffs.
Reports said the latest tariffs will bring average US tariffs on all Chinese products to as high as 65%.
