China’s finance ministry has announced a 34% tariff on all goods imported from the U.S., effective from April 10. This decision comes as a response to the U.S. administration’s earlier imposed duties.
What Happened: China’s finance ministry has declared a 34% tariff on all U.S. imports, starting April 10. This action is a retaliation to the duties imposed by the U.S. administration earlier in the week.
“China urges the United States to immediately cancel its unilateral tariff measures and resolve trade differences through consultation in an equal, respectful and mutually beneficial manner,” stated the Chinese finance ministry.
The ministry criticized the U.S. approach, stating that it violates international trade rules, harms China’s legitimate rights and interests, and represents unilateral bullying. Beijing called the 54% U.S. tariffs on China “inconsistent with international trade rules”. …