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| China Retaliates with 34% Tariffs on U.S. Goods |
As of April 11, 2025, China has escalated its trade retaliation against the United States by imposing a 34% tariff on all U.S. imports, effective April 10. This move mirrors the 34% "reciprocal" tariff recently enacted by the U.S. under President Donald Trump's "Liberation Day" trade measures.
Key Developments
Scope of Tariffs: The 34% tariff applies broadly to all U.S. imports into China. Additionally, China has imposed a 15% tariff on U.S. coal and liquefied natural gas (LNG), and a 10% tariff on crude oil, agricultural machinery, large-displacement vehicles, and pickup trucks. Export Controls: China has announced export controls on critical rare earth elements, including samarium and gadolinium, which are essential for high-tech products such as computer chips and electric vehicle batteries. Trade Disputes: In response to the U.S. tariffs, China has filed a complaint with the World Trade Organization (WTO), accusing the U.S. of unilateralism and trade protectionism.
Market Impact
The escalating trade tensions have led to significant market disruptions. The U.S. stock market experienced its worst day since 2020, with major indices like the S&P 500 declining sharply
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