China announces 34 % of the customs tariffs on US imports

Open the newsletter to watch the White House for free

Your guide to what the American elections mean 2024 for Washington and the world

China has announced 34 percent definitions on all American imports in retaliation for the duties that President Donald Trump revealed this week, prompting the world to a full trade war.

Global stock markets extended their losses on Friday after the announcement, as the S&P futures tracked 2 percent and Stoxx 600 4.4 percent in Europe.

China Ministry of Commerce On Friday, the tariff, which is proportional to the last Trump duties in Beijing, will be imposed on all the goods imported from the United States as of April 10, a day after the introduction of “mutual” fees for America.

Trump this week’s announcement of 34 percent tariff On Chinese imports of the United States, Washington’s total fees on Chinese goods will take more than 60 percent threatened during the election campaign last year.

Beijing, who was previously considered such a level of definitions such as the worst case, denounced the new American duties as a “unilateral step”.

He added that this step “does not comply with international trade rules and is seriously destroyed by legitimate rights and China’s interest.”

The latest Beijing measures may have influencing US agricultural exports, including soybeans, wheat and corn. China It is also an important importer of pharmaceutical preparations, raw oils, petroleum gas and liquefied natural gas from the United States.

The trade war comes in a sensitive moment for Chinese President Xi Jinping, who was based on exports to direct the second largest economy in the world through stagnation in the real estate sector.

Trump has moved to impose a very declining tariff on trade partners around the world, and may disturb markets. On Thursday, it was about 2.5 Trillines in the market value It is wiped out of Wall Street stocks All post -election gains were wiped in dollars.

As the fall continued on Friday, FTSE fell 2.6 percent and DAX in Germany lost 4.8 percent.

Investors We swept the treasuryPushing the return down 0.15 percentage points a day to just less than 3.9 percent, its lowest level since early October.

Beijing is among the biggest “mutual” targets Trump unveiledWho already imposed a 20 percent separate duty on Chinese goods earlier this year.

Andrew Gilholm, head of China’s analysis of the risk of controlling consulting, said that Beijing may suffer from “great damage to themselves” from the customs tariff in the United States, given the surplus of trade in China with the United States and the definitions it already offered.

China has announced the export ban on seven rare lands on Friday, while American technology companies, including Skydio and BRINC drones, have been added to the list of “unreliable entity”, which prevents Chinese suppliers from selling ingredients to them.