China will impose an additional 34 percent tariff on all US-origin goods, effective April 10, in retaliation to the US government’s newly announced “reciprocal tariffs” on Chinese imports, the Customs Tariff Commission of the State Council announced on Friday, according to China Media Group.
The additional tariff will be applied on top of existing tariff rates and will not be subject to exemptions. However, current bonded and tax reduction policies will remain unchanged, the announcement clarified.
To ease the transition, the commission stated that goods shipped from their place of departure before April 10 and arriving in China between April 10 and May 13 will not be subject to the newly imposed tariffs.
The Chinese government’s decision follows the US government’s announcement on April 2 of new “reciprocal tariffs” targeting Chinese goods. Beijing has strongly condemned the move, arguing that it violates international trade rules and harms China’s legitimate rights and interests. The commission labeled the US action as an example of “unilateral bullying” and emphasized that China remains committed to defending its economic sovereignty.
This latest development marks another escalation in the ongoing trade tensions between the world’s two largest economies. The new tariffs are expected to impact a wide range of US exports to China, potentially affecting industries such as agriculture, technology, and manufacturing.
Market analysts anticipate that these measures could have significant implications for global supply chains and trade dynamics. Both Chinese and international businesses are closely monitoring the situation, with concerns rising over further retaliatory measures from either side.
The Chinese government reaffirmed its position on maintaining fair trade practices and urged the US to engage in dialogue to resolve the ongoing trade disputes. However, with both sides adopting a hardline stance, the likelihood of a swift resolution remains uncertain.
