Posted: Friday, April 4, 2025. 9:22 am CST.
By Zoila Palma: China has escalated its trade war with the U.S., imposing a 34% tariff on American goods, matching President Trump’s recent tariffs.
The Chinese government also barred 11 U.S. companies from doing business in China and launched two trade investigations into U.S. medical equipment exports, the New York Times report.
In addition to the tariffs, China restricted exports of 7 rare earth elements critical for tech and defense industries.
The country also suspended chicken imports from five U.S. companies and began an antimonopoly investigation into DuPont’s China operations.
While Trump’s tariffs mostly exempt certain goods like semiconductors, China’s tariffs apply broadly. These actions triggered a sharp drop in U.S. stock futures, with the S&P 500 falling 2.5% on Friday.
In response, Trump posted on Truth Social, claiming China had “played it wrong” and “panicked.” The tariffs are set to take effect next week, with China’s retaliation following shortly after.
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The post International News: China retaliates with 34% Tariffs amid Trade war with U.S. appeared first on Belize News and Opinion on www.breakingbelizenews.com.
Posted: Friday, April 4, 2025. 9:22 am CST. By Zoila Palma: China has escalated its trade war with the U.S., imposing a 34% tariff on American
The post International News: China retaliates with 34% Tariffs amid Trade war with U.S. appeared first on Belize News and Opinion on www.breakingbelizenews.com.
