China Retaliates With 34 Percent Tariffs on US Goods – EVOL

The tariffs will come into effect from April 10.

China announced a raft of additional tariffs and restrictions against American goods on Friday, in retaliation to the sweeping tariffs imposed by U.S. President Donald Trump.

Beijing said that from April 10 it would impose additional tariffs of 34 percent on all United States products.

The Chinese Finance Ministry said in a statement that the imposition of what the United States refers to as reciprocal tariffs on Chinese goods “is not in line with international trade rules, seriously undermines China’s legitimate rights and interests,” adding that it was a “bullying practice.”

The Chinese Communist Party (CCP) also unveiled controls on exports of medium and heavy rare-earths, including samarium, gadolinium, terbium, dysprosium, lutetium, scandium and yttrium to the United States, effective from Friday.

It also added 11 entities to the “unreliable entity” list, which allows Beijing to take punitive actions against foreign entities.

Reuters contributed to this report.

This is a developing story, updates will follow.

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