China has declared its intention to implement additional tariffs of 34 percent on imports from the United States, responding to similar duties introduced by President Donald Trump this week as part of his assertive trade policy.
The Ministry of Commerce announced on Friday (today) that this tariff will apply to all goods imported from the US, effective April 10.
Following the US president’s announcement of “reciprocal” duties of 34%, which will be added to current levies, the Financial Times reported on Friday that tariffs on Chinese exports are anticipated to surpass 60%.
As “a typical unilateral bullying tactic,” Beijing has denounced the additional US tariffs, saying they “violate international trade regulations and significantly undermine China’s legitimate rights and interests.”
More details shortly…