Beijing fires back at Trump’s latest tariffs with a matching 34% tax on all U.S. imports and tightened export controls on rare earth elements.
China announced Friday that it will impose a 34% tariff on imports of all U.S. products beginning April 10. The new tariff matches the rate of the U.S. tariff announced by President Trump this week, which he called a „reciprocal“ measure, claiming China had tariffs and other measures in place on U.S. goods already that amounted to a 67% trade barrier.
For Mr. Trump’s so-called „Liberation Day“ tariffs, the White House used a formula to calculate the sum of all the trade practices it deems unfair from other nations, including currency manipulation, tariffs and other barriers, in reaching its decision on how heavily to tariff almost every other country in the world. Economists have questioned the methodology, and many foreign governments have complained the levies are unfair and misrepresent their trade imbalances with the U.S.
The Commerce Ministry in Beijing also said in a notice that it will impose more export controls on rare earths, which are materials used in high-tech products such as computer chips and electric vehicle batteries.
