By
Reuters
Translated by
Nazia BIBI KEENOO
Revealed
April 7, 2025
Beijing will implement a 34% tariff on all U.S. imports starting April 10, the Chinese language Ministry of Finance introduced Friday—escalating tensions within the ongoing commerce standoff between the 2 international locations.
Donald Trump and Xi Jinping. – Reuters
The announcement, which despatched Wall Avenue futures tumbling following a $2.4 trillion drop in market capitalization for U.S. firms the day past, is seen as a direct response to Donald Trump’s 34% tariff improve on Chinese language items on Wednesday. The brand new tariffs are along with the 20% already imposed in latest weeks.
China additionally introduced it can tighten controls on uncommon earth exports to the US starting April 4.
The Ministry of Commerce described the transfer as a option to “better safeguard national interests” and “uphold China’s international commitments, including non-proliferation obligations.”
In a separate growth, the Chinese language authorities added eleven extra entities to its “unreliable entities list,” a instrument it makes use of to take retaliatory measures in opposition to international firms.
(Written by Mei Mei Chu; French model by Zhifan Liu and Tangi Salaün; edited by Sophie Louet)
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