China Responds To US With 34% Retaliatory Tariff As Trade War Escalates | Read
China said on Friday it would slap 34 percent tariffs on all imports of US goods from April 10 after Washington imposed steep new levies on Chinese products.
"For all imported goods originating from the US, an additional tariff of 34 percent on top of the current applicable tariff rate will be imposed," Beijing's finance ministry said.
Beijing's Commerce Ministry also imposed export controls on seven rare earth elements, including gadolinium -- commonly used in magnetic resonance imaging -- and yttrium, which is used in consumer electronics.
China will also file a lawsuit with the World Trade Organization (WTO) over tariffs, the ministry said.
