• Tariffs
• US-China

CHINA IMPOSES 34% TARIFF ON ALL US PRODUCTS IN RETALIATION AGAINST TRUMP’S TARIFFS

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  CapitalTimesNews / 5 days
• 0
• 2 min read

China has announced that it will impose a 34% tariff on all US products starting April 10, in response to US President Donald Trump’s recent tariffs on Chinese exports. The new tariff matches the rate of the US “reciprocal” tariff of 34% on Chinese exports that Trump ordered this week. According to the Commerce Ministry in Beijing, the tariff will apply to all US products, and China will also impose more export controls on rare earths, including samarium and its compounds, used in aerospace manufacturing and the defense sector, and gadolinium, used in MRI scans. China’s customs administration has suspended imports of chicken from some US suppliers after detecting furazolidone, a banned drug, and high levels of mold in sorghum and salmonella in poultry meat from some companies. The affected companies include C&D Inc., a sorghum exporter, and four poultry companies. Additionally, China has added 27 firms to its lists of companies subject to trade sanctions or export controls, including High Point Aerotechnologies, a defense tech company, and Universal Logistics Holding, a transportation and logistics company. Beijing has also filed a lawsuit with the World Trade Organization over the tariffs issue, stating that the US imposition of “reciprocal tariffs” seriously violates WTO rules and damages the legitimate rights and interests of WTO members. “The United States’ imposition of so-called ‘reciprocal tariffs’ seriously violates WTO rules, seriously damages the legitimate rights and interests of WTO members, and seriously undermines the rules-based multilateral trading system and international economic and trade order,” the Commerce Ministry said. China has already imposed tariffs on US products, including a 15% tariff on coal and liquefied natural gas products, and a 10% tariff on crude oil, agricultural machinery, and large-engine cars. The latest tariffs are part of a growing trade tension between the US and China, with dozens of US companies subject to controls on trade and investment, and many Chinese companies facing similar limits on dealings with US firms.