China has announced that it will impose additional tariffs of 34% on imports from the US, in retaliation for similar duties introduced by President Donald Trump this week as part of his aggressive trade strategy.
The Chinese Ministry of Commerce confirmed on Friday that the new tariffs will apply to all goods imported from the US starting on April 10. According to the Financial Times, the total levies on Chinese exports to the US will exceed 60% after these new tariffs are added on top of existing ones.
China condemned the new US tariffs, calling them “a typical unilateral bullying move” that violates international trade rules and harms China’s legitimate rights and interests.
In addition to the tariffs, China announced export controls on medium and heavy rare earths, key materials used in high-tech products like computer chips and electric vehicle batteries, effective April 4. The Chinese Ministry of Commerce stated that these measures aim to safeguard national security and fulfill international obligations, such as non-proliferation.
China also revealed it would add 27 US companies to its lists of those subject to trade sanctions or export controls. Furthermore, Beijing plans to file a complaint with the World Trade Organization over the US tariffs.
On Wednesday, President Trump announced a range of new tariffs, with a minimum of 10% on imports from various countries, including 34% on China, 26% on India, 46% on Vietnam, and 10% on the UK. The European Union faces a 20% tariff, while Cambodia will see a 49% tariff and South Korea a 25% tariff.
Trump defended the new tariffs, stating, “Taxpayers have been ripped off for more than 50 years. But it is not going to happen anymore.” These new tariffs push the average US tariff on Chinese products to as high as 65%, according to Bloomberg, which includes the existing tariffs from Trump’s first term, continued under the Biden administration.