China to impose a reprisal rate of 34% on all goods imported from the United States

On Friday, the Chinese finance ministry said it would impose a rate of 34% on all goods imported from the United States from April 10, following its functions imposed by the administration of US President Donald Trump earlier this week, according to the Xinhua State media.

“China urges the United States to immediately cancel its unilateral pricing measures and to resolve commercial differences by consultation equally, respectful and mutually beneficial,” Xinhua told the Ministry of Finance in a report by Google.

The ministry also criticized Washington’s decision to impose 34% of additional reciprocal deductions from China – which has brought a total of American tariffs against the country at 54% – as “incompatible with the rules of international trade” and “seriously” undermining Chinese interests, as well as to implement “global economic development and the stability of production and the supply chain”.

CNBC contacted the White House to comment.

Beijing, who also entertained a tenuous commercial relationship with Washington under Trump’s first term, had warned that he would take “resolved countermeasures” to protect his own interests after the White House revealed his latest radical rates on Wednesday.

Mutual levies should have an impact on a commercial relationship worth 582.4 billion dollars in goods in 2024, according to the office of the American commercial representative.

Analysts expect the protectionist trade policies of the United States to direct China to other business partners and see it implement new recovery measures in order to galvanize the economy. China has fought against a real estate crisis and a low feeling of consumers and businesses since the end of the Pandemic COVID-19.

Retisal prices in China announced on Friday in exacerbated world market decreases which had already been pushed by fears of inflationist, recession and global growth risks following the White House prices.