China hits back with 34% tariff amid global trade tensions
China announced that starting April 10, it will impose a 34% tariff on all American goods in response to new tariffs imposed by President Donald Trump. The Ministry of Finance in Beijing has called on the USA to remove unilateral tariffs and resolve trade disputes through consultations.
The Chinese Ministry of Finance stated that from midnight on April 10, 2025, it will apply a 34% tariff on all American goods imported into China. This is a response to recent decisions by President Donald Trump's administration, which implemented similar tariffs on Chinese products. In line with these actions, the total tariffs imposed by the USA on goods from China have increased to 54%.
"China 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," – stated the Chinese ministry.
Authorities in Beijing accused the USA of "typical unilateral bullying" related to these actions. Besides imposing a 34% tariff, Trump charged Chinese imports with additional fees, increasing the overall import costs from China, reports CNBC.
Trump announces tariffs on the entire world
Donald Trump announced on Wednesday, during "Liberation Day," retaliatory tariffs on the entire world: 10% on all imports and 25% on foreign cars. He presented a list of countries and the tariff rates they would incur – in the case of the European Union, it will be 20%.
The basic 10% tariffs on products from all countries will take effect on April 5, and additional tariffs on goods from specific countries will begin on April 9.
The White House informed CNBC on Wednesday that a new reciprocal tariff rate on China will be added to the existing tariffs totaling 20%. This means the effective tariff rate on Beijing during Trump's term will be 54%.
