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China has announced a new 34% tariff on all imports coming from the United States. The measure, set to take effect on April 10, is widely seen as a direct response to President Donald Trump’s earlier decision to raise tariffs on Chinese goods.
The announcement was made by China’s Ministry of Finance, which framed the move as a matter of economic self-defense. In a brief statement, officials said the new tariffs are meant to counteract Washington’s “unilateral and protectionist” trade policies, which they claim are not only harmful to global economic stability but also in violation of World Trade Organization (WTO) norms.
“Our response is legitimate, lawful, and necessary,” the ministry stated. “We will not sit by while the international trade order is undermined by one-sided actions.”
The 34% tariff applies across the board to U.S. goods, covering industries from agriculture and manufacturing to technology and consumer products. In tandem with the new import duties, China is also tightening its grip on key exports—especially rare earth minerals, which are vital to high-tech sectors including electric vehicles, semiconductors, and defense manufacturing.
As if that weren’t enough, Beijing has submitted a formal complaint to the WTO and has also moved to sanction 27 American companies, accusing them of violating Chinese laws and threatening national interests.
The economic ripples were felt almost immediately. Wall Street reacted with a sharp downturn, with the Dow Jones and S&P 500 sliding in early trading. Analysts warn that the worsening trade spat could drag on, potentially harming global supply chains and investor confidence at a time when the world economy is still recovering from recent shocks.
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Although the Biden administration (which Trump is widely expected to challenge again in the upcoming election) has yet to release a full statement, senior U.S. trade officials have expressed “deep concern” over China’s retaliatory stance. Behind closed doors, however, conversations are reportedly underway to assess possible countermeasures.
This isn’t the first time U.S.–China trade relations have soured, but the latest developments show that tensions are entering a more complex and confrontational phase. Whether the two sides will find a way back to the negotiating table remains to be seen—but for now, businesses on both sides of the Pacific are bracing for impact.
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