China's Ministry of Finance announced on April 4 that it will impose an additional 34 per cent tariff on all US goods starting April 10, marking a retaliatory action in response to President Donald Trump's tariffs. The ministry also revealed new export controls on key medium and heavy rare-earth elements—such as samarium, gadolinium, terbium, dysprosium, lutetium, scandium, and yttrium—effective April 4.
In addition to the tariffs and export restrictions, Beijing has added 11 foreign entities to its "unreliable entity" list, granting authorities the ability to impose punitive measures on them. The Ministry of Commerce stated, "The purpose of China's export controls is to better protect national security and interests, as well as fulfill international obligations like non-proliferation."
However, shipments that leave their origin before the deadline and arrive by May 13, 2025, will not be subject to the additional tariffs. The State Council Tariff Commission clarified, "If goods are shipped before 12:01 AM on April 10, 2025, and arrive between 12:01 AM on April 10, 2025, and midnight on May 13, 2025, the additional tariffs outlined in this announcement will not apply."
This move follows a day after Beijing urged Washington to retract its latest tariffs and issued a warning of countermeasures to protect its own interests. "China firmly opposes this and will take countermeasures to safeguard its rights and interests," the Ministry of Commerce said, as tensions between the world라이브 바카라 two largest economies threaten to escalate into a full-blown trade war.
Trump had announced on Wednesday that China would face a 34 per cent tariff, adding to the 20 per cent duty imposed earlier this year. This brings the total new tariffs on Chinese imports to 54 per cent, edging closer to the 60 per cent rate he had floated during his presidential campaign.
Under the new US tariff structure, Chinese exporters-along with those from other economies-will be subject to a baseline tariff of 10 per cent on almost all goods shipped to the US starting Saturday. The remaining higher "reciprocal tariffs" will take effect from April 9.
Trump also signed an executive order closing a trade loophole known as "de minimis," which had allowed low-value packages from China and Hong Kong to enter the US duty-free.
The latest round of tariff hikes comes as the US Trade Representative reviews whether China has adhered to its commitments under the 2020 "Phase 1" trade agreement. Under the deal, China was required to increase purchases of US exports by USD 200 billion over two years, but Beijing fell short of its targets, citing the impact of the Covid-19 pandemic.
Chinese customs data shows that in 2017, before the trade war began, China purchased USD 154 billion in US goods. That figure rose to USD 164 billion last year, highlighting the complex economic ties between the two nations despite ongoing disputes.
