China retaliates after Trump tariff blitz, to impose additional 34% levies on all imports from US

China on Friday imposed 34 per cent retaliatory tariffs on all US goods.

In retaliation to US President Donald Trump’s rollout of tariffs on Wednesday, Chinese tariffs will come into effect on April 10, according to China’s Xinhua news agency.

In the tariffs announced on Wednesday, Trump slapped 34 per cent tariffs on China on top of 20 per cent tariffs previously slapped in two tranches. This means that he has slapped a total of 54 per cent tariffs on China. Trump’s tariffs are on top of targeted, sectoral tariffs that the previous Joe Biden administration had imposed.

Unlike Trump’s tariffs that exempted some import categories like semiconductors and

pharmaceuticals, Chinese retaliation has not carved out any such exemptions, according to The New York Times.

China also announced a slew of non-triff retaliatory measures, as per The Times.

In addition to tariffs, China put 11 US companies in the “unreliable entities” list that would essentially ban these companies from doing business in China or with Chinese companies. China also imposed tight export controls on some rare earth minerals that are used in a lot of products ranging from electric vehicles (EVs) to military technology and weapons.

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China also banned the import of US chicken from some particular producers, according to the list.

Previously, China had announced retaliation to two tranches of Trump’s tariffs as well.

In the first round of retaliation in February, China imposed 15 per cent tariffs on US coal and liquified natural gas (LNG) and 10 per cent tariffs on US crude oil, farm equipment, and some autos. China also announced non-tariff punitive meaures.

China imposed export controls on tungsten, tellurium, ruthenium, molybdenum, and ruthenium-related items to “safeguard national security interests”. It also launched an an anti-monopoly investigation into US technology giant Google and designated Calvin Klein-maker PVH Corp and US biotech company Illumina as ‘unreliable entities’.

In the second round of retaliation in March, China imposed 15 per cent tariffs on US chicken, wheat, corn, and cotton, and 10 per cent tariff on US soybeans, sorghum, pork, beef, aquatic products, fruits, vegetables, and dairy imports. China also put 25 US firms under export and investment restrictions.