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China retaliates with tariff that matches Trump’s
China has responded to Donald Trump’s new trade tariffs with its own charges on US imports. After Trump announced the imposition of an additional 34 percent charge on Chinese imports into the US, China has announced a levy at the same rate for US goods shipped to China. In a statement announcing the new tariff, […]
China has responded to Donald Trump’s new trade tariffs with its own charges on US imports. After Trump announced the imposition of an additional 34 percent charge on Chinese imports into the US, China has announced a levy at the same rate for US goods shipped to China.
In a statement announcing the new tariff, China’s finance ministry declared that the US tariff on Chinese goods “seriously undermines China’s legitimate rights and interests,” and called it a “typical unilateral bullying practice.”
The Chinese levy will go into effect on April 10th, one day after the US’s new tariff starts to apply. According to The New York Times, China has also barred 11 American businesses from doing business in China, and imposed strict limits on the exports of some rare earth elements used in electric vehicles and other tech.
Developing…
