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China announced Friday that it will impose a 34% tariff on imports of all U.S. products beginning April 10, part of a flurry of retaliatory measures following U.S. President Donald Trump’s “Liberation Day” slate of double-digit tariffs.
The new tariff matches the rate of the U.S. “reciprocal” tariff of 34% on Chinese exports Trump ordered this week.
The Commerce Ministry in Beijing also said in a notice that it will impose more export controls on rare earths, which are materials used in high-tech products such as computer chips and electric vehicle batteries.
Additionally, the Chinese government said it has added 27 firms to lists of companies subject to trade sanctions or export controls.
Among them, 16 are subject to a ban on the export of “dual-use” goods. High Point Aerotechnologies, a defense tech company, and Universal Logistics Holding, a publicly traded transportation and logistics company, were among those listed.
Beijing also announced it filed a lawsuit with the World Trade Organization over the tariffs issue.
“The United States’ imposition of so-called ‘reciprocal tariffs’ seriously violates WTO rules, seriously damages the legitimate rights and interests of WTO members, and seriously undermines the rules-based multilateral trading system and international economic and trade order,” the Commerce Ministry said.
“It is a typical unilateral bullying practice that endangers the stability of the global economic and trade order. China firmly opposes this,” it said.
In February, China announced a 15% tariff on imports of coal and liquefied natural gas products from the U.S. It separately added a 10% tariff on crude oil, agricultural machinery and large-engine cars.
The latest tariffs apply to all products made in the U.S., according to a statement from the Ministry of Finance’s State Council Tariff Commission.
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So it begins. American farm states that voted overwhelmingly for this nonsense will feel the loss of markets for soybeans, corn, wheat, pork, beef.
And the swampmaster in Washington will bail them out with money from the rest of us. Again.
What’s that saying…fool me once, shame on you; fool me twice, shame on me.
No bailout for farmers. They voted for it, let them feel the full consequences of their choices. Let them sell the farm to some big agribusiness for pennies on the dollar.
Take notes, MAGAt’s – this is what reciprocal tariffs actually look like. Those ChatGPT derived numbers the White House came up were absolute gibberish. And yet that gibberish is going to send us right into a recession.
At this rate we will be lucky if it’s just a recession. We could be in the next Great Depression, almost 100 years after the last one.
The largest tax increase on the middle class in US History. Thanks, Trump.
It is the first step to a regressive national sales tax . To replace the progressive income tax for the
MUSK-TRUMP led oligarchs regime