Donald Trump swiftly reacted to China’s announcement of a 34 percent tariff on all US imports, which is set to take effect on April 10.
This move from China on April 4 followed Trump’s declaration of tariffs on multiple countries during what he called ‘Liberation Day’ in the US on April 2.
The president had initially stated that China would face 54 percent tariffs on all imports to the US. In response, China indicated its strong opposition to this policy.
To counteract, China stated it would implement measures to protect its rights, leading to the newly announced 34 percent tariffs.
In addition to tariffs against the US, China’s commerce ministry outlined plans to enforce stricter export controls on rare earth materials, which are essential in the production of tech items like computer chips and electric vehicle batteries.
China also announced it had filed a complaint with the World Trade Organization (WTO) regarding the tariffs, arguing they breach WTO regulations.
The Chinese commerce ministry commented: “The United States’ imposition of so-called ‘reciprocal tariffs’ seriously violates WTO rules, seriously damages the legitimate rights and interests of WTO members, and seriously undermines the rules-based multilateral trading system and international economic and trade order.
“It is a typical unilateral bullying practice that endangers the stability of the global economic and trade order. China firmly opposes this.”
Following China’s reaction, Trump expressed his views on Truth Social regarding China’s handling of his tariffs.
“CHINA PLAYED IT WRONG,” Trump asserted, adding: “THEY PANICKED – THE ONE THING THEY CANNOT AFFORD TO DO!”
The tariffs announced by China are subsequent to previous levies including a 15 percent tariff on US coal and liquefied natural gas, and a 10 percent tariff on crude oil, agricultural machinery, and large-engine vehicles.
Trump addressed China’s latest tariff move after posting a series of messages in which he affirmed the success of his economic policies, including a $5 million ‘Gold Card’.
“TO THE MANY INVESTORS COMING INTO THE UNITED STATES AND INVESTING MASSIVE AMOUNTS OF MONEY, MY POLICIES WILL NEVER CHANGE. THIS IS A GREAT TIME TO GET RICH, RICHER THAN EVER BEFORE!!!,” he noted in a post earlier today.
In another message, he proclaimed: “GREAT JOB NUMBERS, FAR BETTER THAN EXPECTED. IT’S ALREADY WORKING. HANG TOUGH, WE CAN’T LOSE!!!”