Today, an angry China announced it will impose reciprocal tariffs of 34% on the U.S. This levy will apply to all imports from the United States and is set to begin on April 10.
“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,” the Commerce Ministry said in a statement.
“This practice of the US is not in line with international trade rules, seriously undermines China’s legitimate rights and interests, and is a typical unilateral bullying practice,” China’s State Council Tariff Commission said
Trump’s intense focus on China since his return to power has resulted in the Asian powerhouse facing two additional duties. Combined with other levies, Chinese goods arriving in the U.S. would effectively be subject to 54% tariffs.
The decision to impose heavy tariffs on China was viewed as risky, given that China is a key manufacturing hub for major U.S. tech companies like Apple.
Beijing’s announcement today included the nomination of 11 entities to the “unreliable entity” list, enabling China to impose punitive actions against foreign entities.
Beijing also announced a series of new export controls on rare-earth minerals to the U.S., which could impact the chip industry.
By CEO NA Editorial Staff
