TAIPEI, Taiwan (AP) - China is retaliating in a determined and at times highly detailed manner to U.S. President Donald Trump's new tariffs, led by a retaliatory 34% tax on all U.S. imports next week.
A timeline of US-China tit-for-tat tariffs since Trump’s first term
TAIPEI, Taiwan (AP) - China is retaliating in a determined and at times highly detailed manner to U.S. President Donald Trump's new tariffs, led by a retaliatory 34% tax on all U.S. imports next week.
The strong response shows a degree of preparation that leaves Chinese exports in a tough spot but exacts pain from U.S. exporters that could be used as leverage in any future negotiations.
The Chinese tariffs, announced Friday and taking effect Thursday, match the rate of the ones Trump imposed this week on Chinese products flowing into the United States, coming on top of two rounds of 10% tariffs already declared in February and March, citing allegations of Beijing's role in the fentanyl crisis. China's latest retaliatory moves include more export controls on rare earth minerals, critical for various technologies, and a lawsuit at the World Trade Organization.
Beijing also suspended imports of sorghum, poultry and bonemeal from a number of U.S. companies, and added over two dozen others to a list of trade-restricted companies while launching an anti-monopoly investigation into DuPont China Group Co., a subsidiary of the multinational chemical giant.