China is firing back in the escalating trade battle with the U.S., announcing a hefty 34% tariff on all American imports starting April 10. The move comes in response to Washington’s latest wave of steep levies on Chinese products.
Beijing’s Finance Ministry confirmed the decision, stating that the additional tariff will be applied on top of existing duties. But that’s not all—China’s Commerce Ministry is also tightening its grip on seven key rare earth elements, including gadolinium, vital for MRI technology, and yttrium, widely used in consumer electronics.
Taking the fight beyond tariffs, China is set to file a lawsuit with the World Trade Organization (WTO), challenging the U.S.’s aggressive trade policies.
The clash escalated after U.S. President Donald Trump introduced new 10% levies on global imports, hitting major trade partners hard. He went further by slapping an additional 34% tariff on China, deepening tensions between the two economic giants.
In a swift response, Beijing vowed “countermeasures” to defend its economic interests, setting the stage for what could become a full-blown trade war.
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