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China announces 34pc reciprocal tariff on US goods
BEIJING (92 News) China has announced heavy tariffs on American goods in response to the trade tariffs imposed by the United States (US) yesterday.
According to a foreign news agency, US President Trump had imposed a 54 per cent tariff on imports from China, in response to which China has announced a 34 per cent tariff on imports from the US.
However, China has not only imposed tariffs on US goods, but the Chinese Ministry of Commerce has also added 11 US companies to the list of ‘unreliable entities’, which will prevent them from doing business in China.
In addition, China has also filed a lawsuit against the US tariffs in the World Trade Organisation (WTO).
China has also imposed strict restrictions on the exports of seven minerals, including gadolinium and yttrium, which are important in the production of medical devices and electronics.
In addition, Chinese customs officials have also banned the import of chicken from the US. The restrictions imposed by China will take effect from April 10.