China Imposes Additional 34% Retaliatory Tariffs On US Imports
China has announced the imposition of an additional 34 per cent tariff on imports from the United States, escalating the ongoing trade tensions between the two economic powerhouses.
The decision, made public by Chinaโs Ministry of Commerce on Friday, comes in response to new duties of the same percentage unveiled by US President Donald Trump earlier in the week as part of his aggressive trade policies.
The fresh tariffs are set to take effect from April 10.
Beijing, in a strongly worded statement, condemned the US move, describing it as โa typical unilateral bullying tacticโ that disregards international trade rules and infringes on Chinaโs legitimate economic interests.
In addition to the tariffs, China has also announced export controls on medium and heavy rare earths, key materials used in advanced technology, including computer chips and electric vehicle batteries.
These controls, scheduled to begin from April 4, are part of what the Chinese government describes as a measure to safeguard national security and international obligations.
In a further escalation, 27 US companies have been added to Chinaโs trade sanction and export control lists, limiting their ability to do business with Chinese firms.
China has also declared its intention to file a lawsuit with the World Trade Organization (WTO) to challenge the US tariffs.
The move underscores Beijingโs resolve to push back against what it perceives as Washingtonโs economic aggression.
Trumpโs latest tariff policy has sent shockwaves through global markets, with tariffs ranging from 10 per cent to as high as 49 per cent on imports from several countries. While China was hit with 34 per cent, other nations including India, Vietnam, the UK, the EU, and South Korea have also been affected.
The US President defended his decision, stating, โTaxpayers have been ripped off for more than 50 years, but it is not going to happen anymore.โ
Sodiq Lawal is a passionate and dedicated journalist with a knack for uncovering captivating stories in the bustling metropolis of Osun State and Nigeria at large. He has a versatile reporting style, covering a wide range of topics, from politics , campus, and social issues to arts and culture, seeking impact in all facetsย ofย theย society.
