China announces extra 34% tariff on all goods from the U.S. starting April 10
China has announced that it will impose a 34% tariff on all imports from the United States, effective April 10, 2025. This action is a direct response to the U.S.’s recent implementation of a 34% tariff on Chinese exports, as part of President Donald Trump’s “Liberation Day” policy.
In addition to the tariffs, China has introduced several other measures:
- Export Controls on Rare Earth Elements: Stricter export controls will be applied to rare earth elements, including samarium and gadolinium, which are vital for high-tech and defense industries.
- Suspension of Imports from Specific U.S. Suppliers: Imports of chicken from Mountaire Farms and Coastal Processing have been suspended due to the detection of the banned drug furazolidone.
- Trade Sanctions on U.S. Firms: China has added 27 U.S. companies to its trade sanction lists, including High Point Aerotechnologies and Universal Logistics Holding, with 16 companies banned from receiving dual-use goods. AP NEWS
China has also filed a complaint with the World Trade Organization, arguing that the U.S. tariffs violate international trade rules.
The announcement has led to significant market reactions, with U.S. stock futures experiencing sharp declines and companies with substantial exposure to China, such as Tesla and Amazon, seeing notable drops in their stock prices.
This escalation in trade tensions marks a significant development in the ongoing trade dispute between the U.S. and China.