In response to President Donald Trump’s announced “Liberation Day,” China has now reportedly declared a retaliatory 34% tariff on all goods imported from the United States, set to take effect on April 10.
This measure comes after Trump unveiled a series of global tariffs, which included the same 34% rate on Chinese imports, emphasizing the need to rebuild U.S. industry and correct trade imbalances.
The Chinese Ministry of Finance criticized the U.S. action, labeling it a violation of international trade norms and accusing it of undermining China’s legitimate rights.
They described the U.S. tariffs as unilateral bullying practices that threaten both American interests and global economic stability.
China’s announcement further escalates tensions, as they also imposed export controls on seven rare earth minerals and placed 11 American companies on their “unreliable entities list,” along with additional restrictions on 16 other U.S. firms.
Stocks plunged following the news, with the Dow Jones Industrial Average dropping 1,679 points and the S&P 500 falling by 274 points on the same day.
White House Press Secretary Karoline Leavitt urged Americans concerned about the economy to trust Trump’s judgment, referencing economic successes during his previous term, such as wage increases and tax cuts.
Trump framed the situation as a necessary showdown, claiming that foreign nations had been taking advantage of the United States for decades.
During his address, Trump marked the occasion as a pivotal moment for American industry, declaring April 2, 2025, as a day that would be remembered for reclaiming America’s economic destiny.
The unfolding trade conflict reflects ongoing disputes between the two nations and further complicates U.S.-China relations.
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