China Fires Back with Tariff Hike on U.S. Goods Starting April 10

China has announced it will slap a 34% tariff on imports from the United States starting April 10, according to a statement released by customs authorities on Friday. 

The decision is a direct response to a similar 34% tariff on Chinese products revealed by U.S. President Donald Trump just two days earlier, as part of a broader strategy targeting trade imbalances with multiple countries.

Beijing has also blacklisted 11 American companies, making it de facto impossible for the companies concerned to continue trading in China or with Chinese companies.

On top of that, Beijing imposed export controls on several rare earth metals – which are often used to make vital components for digital devices to the U.S. with immediate effect.

Finally, Beijing announced that it would file a complaint against the U.S. with the World Trade Organidation (WTO).

Trump’s announcement on Wednesday took the total U.S. tariffs on imports from China to 54 per cent, as a 20 per cent toll was already in place.

The Commerce Ministry in Beijing said the U.S. tariffs were based on subjective unilateral assessments and violated international trade rules.

dpa/NAN