China has announced a slew of countermeasures against tariffs imposed by United States President Donald Trump, including additional tariffs of 34 percent on all goods and curbs on the export of some rare earths, deepening an escalating trade war.
Mr. Trump on Wednesday announced that China would be hit with a 34-percent tariff, on top of the 20 percent he imposed earlier this year, bringing the total new levies to 54 percent.
On Friday, China’s Ministry of Finance said the additional tariffs would be imposed from April 10.
China also said it would restrict exports of rare-earth materials, effective immediately.
The world’s leading producer of rare earths, Chinese exports are critical for a number of technologies, including electric vehicles.
Beijing has previously imposed tariffs of 15 percent on imports of coal and liquefied natural gas (LNG) from the US in retaliation for Washington’s 10 percent levies on Chinese goods.
It also announced stiff export controls on key minerals and businesses, limiting what could be exchanged with the US.
