China Imposes Retaliatory Tariffs of 34% on All Goods Imported from US

China's Ministry of Finance announced Friday that it will impose 34% tariffs on all goods imported from the United States, effective April 10, following tariffs imposed by the Trump administration earlier this week, according to CNBC.

"China urges the United States to immediately rescind its unilateral tariff measures and resolve trade disputes through consultations in an equal, respectful, and mutually beneficial manner," the ministry said.

The ministry also criticized Washington's decision to impose an additional 34% in reciprocal tariffs on China—bringing the total US tariffs imposed on the country to 54%—describing it as "contrary to international trade rules" and "seriously undermining" Chinese interests, as well as jeopardizing "global economic development and the stability of production and supply chains," according to a report by China's official Xinhua News Agency.

Separately, China also added 11 US companies to its "unreliable entities list," which Beijing says has violated market rules or contractual obligations. China's Ministry of Commerce also added 16 US entities to its export control list and said it would implement export controls on seven types of rare earth-related elements, including samarium, gadolinium, and terbium.

Beijing also filed a formal complaint against the United States with the World Trade Organization, the Commerce Ministry confirmed, saying Washington's tariff policy "seriously violates WTO rules, seriously harms the legitimate rights and interests of its members, and seriously undermines the rules-based multilateral trading system and the international economic and trading order."

"China has miscalculated," Trump said on his Truth Social platform. "They panicked—the one thing they can't afford!"