China to impose a 34 % revenge tariff on all goods imported from the United States

The Chinese Finance Ministry said on Friday that it will impose a 34 % tariff on all the goods imported from the United States, which begins on April 10, after its duties imposed by the administration of US President Donald Trump earlier this week.

“China urges the United States to cancel the mono tariff measures immediately and solve commercial differences through consultation in an equal, respectful and useful way for both parties,” The ministry saidAccording to Google’s translation.

It has also criticized Washington’s decision to impose 34 % of the additional mutual fees on China-which raised the total American definitions against the country to 54 %-as it is “incompatible with international trade rules” and “seriously” undermining Chinese interests, as well as a report From the Chinese news outlet Xinhua.

Separately, China also 11 American companies added To “to”Understanding entities list“The Beijing administration says that market rules or contractual obligations. The Chinese Ministry of Trade as well He added 16 American entities To the export control list she will work Implementing export controls In seven types of rare related elements, including samarium, gadolinium and turbium.

CNBC contacted the White House to comment.

Beijing, which also enjoyed a weak trade relationship with Washington under the first period of Trump, It has warned It will take “counter measures” to protect its own interests after the White House revealed the latest comprehensive tariff on Wednesday.

Commercial partners in the United States have been stopped from announcing the revenge customs tariffs amid more negotiations, with the expression of the European Union as it is ready to respond.

The mutual fees in the United States of China are scheduled to affect a commercial relationship of $ 582.4 billion of goods in 2024, According to the office of the American Trade Representative.

Analysts expect that US protective trade policies will direct China towards other commercial partners and see it to implement more stimulus measures in an attempt to stimulate the economy. China has been fighting a real estate crisis, consumer feelings and weak commercial assault since the end of the Covid-19s.

Chinese reprisals on Friday announced declines in the global markets that have already been pushed into turmoil due to fears of global inflationary, stagnation and economic growth after the White House tariff.