With a 34% Import Tariff, China Retaliates Against Trump.
China has announced its decision to impose 34% tariffs on imports from the United States US hours after President Donald Trump unveiled the same amount against Beijing under his reciprocal tariff plan.
The new China tariffs against the US are expected to go into effect on April 10, according to The Wall Street Journal.
China’s Ministry of Commerce said on Friday that the tariff, which matches Trump’s latest increase in duties on Beijing, would be imposed on all imported goods from the United States.
Chinese Foreign Ministry spokesperson Guo Jiakun, who also confirmed this at a briefing in Beijing, lamented that the US announced tariff hikes on imports from many countries, including China, under the pretext of reciprocity.
According to him, Trump’s tariffs “gravely violate” World Trade Organization rules, stressing that it undermines the rules-based multilateral trading system.
GURUTRENDS reports that the developments are moving the world closer to a full-blown trade war.
