Trump’s tariffs prompt China to retaliate against 34% of U.S. imports, control of rare earth exports

Beijing – China announced on Friday that it would impose a 34% tariff on imports of all U.S. products starting April 10. The new tariffs match the U.S. tariff rate announced by President Trump this week, which he called the “reciprocal” measure, claiming that China has taken tariffs and other measures on U.S. goods, and has reached a 67% barrier to transactions.

For Mr. Trump The so-called “Liberation Day” tariffsThe White House uses a formula to calculate the sum of all trade practices in other countries it considers unfair, including currency manipulation, tariffs and other obstacles, to determine how severe tariffs are on nearly every other country in the world. Economists question this approach, many Foreign government complains Taxation is unfair and distorts trade imbalance with the United States

Beijing’s commerce ministry also said it would impose more export controls on rare earth elements, which are materials used in high-tech products such as computer chips and electric vehicle batteries.

The Chinese government said it would add 27 U.S. companies to trade sanctions or export control measures. According to the media strictly controlled by China, the expanded export control will cover seven types of rare earth-related projects, including samarium, gadolinium, terbium, terbium, dysprosium, lutetium, scandium, scandium and yttrium.

Beijing also announced Friday that it has filed a lawsuit with the World Trade Organization involving tariffs from the Trump administration.

The Trump administration unveiled its massive tariff this week, a testament to the gut attitude of global stocks, with The U.S. market records worst loss day Thursday since the common pandemic. Bleeding in the value of stocks in Asian and European markets continued on Friday as Mr. Trump announced the news at the White House on Wednesday.

China and other countries expressed their hope to reach a new trade deal with Washington, stressing that they would negotiate, Mr. Trump was open to Trump, but even close allies such as Britain, which had faced a minimum attack on Wednesday’s minimum basic tax tariffs, also made it clear that acceptance of retaliation measures are still being considered.