China imposes a 34% reciprocal tariff on US goods

It didn’t take long for China to retaliate against the Trump administration’s new “Liberation Day” tariffs. Effective April 10, China is imposing a reciprocal 34% tariff on all US imports.

The accompanying press release by the Chinese Ministry of Finance refers to the Trump tariffs as a “unilateral bullying practice” and “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”.

China is also restricting exports of rare earth minerals used in a broad range of sectors, from semiconductors to electric vehicles, effective immediately. In addition to the new 34% tariff, China has blocked 11 US defense and drone companies from trading and exporting from China. An additional 16 US companies were added to China’s export control list.

China’s Ministry of Commerce also filed a complaint with the World Trade Organization, which accuses the Trump tariffs of violating WTO rules. The US exported $143.5 billion in goods to China in 2024.

Source (in Chinese)