China retaliates with additional 50 percent tariff on US goods, matching Trump’s

Hours after Donald Trump’s latest tariffs came into effect, China has announced retaliatory measures: an additional 50 percent tariff on US goods, on top of a planned 34 percent charge, and adding a further 12 US companies to its export control list.

“The US’s practice of escalating tariffs on China is a mistake on top of a mistake, which seriously infringes on China’s legitimate rights and interests and seriously damages the rules-based multilateral trading system,” the country’s Tariff Commission said in a statement.

Last week China announced a 34 percent tariff on goods imported from the US, matching the rate that the US would impose on Chinese goods. Trump took that badly, adding an additional 50 percent levy, which China is now matching in return. The new US tariffs on China, and other countries around the world, took effect today, with the 84 percent rate added onto existing 20 percent tariffs for a total of 104 percent. China’s 84 percent levy on US goods will come into force tomorrow, April 10th. 

In addition to the elevated tariffs, China has added 12 US companies to its export control list, joining 16 additions from last week. That move bans the export of dual-use items – anything that can be used for both civilian and military purposes – to those companies.

The European Union is expected to confirm its own retaliatory measures soon, with a vote taking place today.