China Strikes Back at Trump's Tariffs, Announces 34% Tax on US Goods

China has announced new tariffs of 34% on all products imported from the United States. These tariffs will take effect from April 10. This decision comes in response to former US President Donald Trump’s move to impose tariffs on several countries, including China.

Apart from the tariffs, China will also limit the export of medium and heavy rare earth materials starting April 4. These materials are essential for making advanced technology products like computer chips and electric vehicle batteries. The Chinese government stated that these restrictions are meant to protect national security and follow international regulations.

Trade war intensifies

China has also placed 27 American companies under trade sanctions and export controls. Additionally, Beijing plans to file a complaint with the World Trade Organization (WTO) against the US tariffs.

Earlier this week, Trump announced tariffs ranging from 10% to 49% on imports from multiple countries. China was hit with a 34% tariff, while other nations like Vietnam, India, and the European Union also faced high import taxes. Trump defended his decision, saying that American taxpayers had been at a disadvantage for decades, and his tariffs would change that.

ALSO READ: Easter egg prices soar, Americans turn to dyeing marshmallows, potatoes, and onions

ALSO READ: Astronaut captures stunning view of Antarctica from Polar Orbit in breathtaking video

Financial experts believe these measures could raise the average tariff on Chinese products entering the US to 65%. This includes earlier tariffs imposed during Trump’s first term, which remained in place even under the Biden administration. The trade war between the US and China is now expected to escalate further, affecting global markets and international trade relationships.