Trump’s Response to China’s Retaliatory Tariffs
In response to China’s decision to impose tariffs on U.S. products, U.S. President Donald Trump stated that China is “panicking” and taking a wrong step.
Trump said, “China made a wrong move, they are panicking, and that’s something China cannot tolerate.”
It is important to note that the previous day, the U.S. imposed a 34% additional tariff on Chinese imports, bringing the total tariff rate on Chinese products to 54%.
Today, in retaliation to the U.S. tariffs, China imposed a 34% tariff on U.S. products and also announced export restrictions on critical minerals.
The Chinese Ministry of Commerce has added 11 American companies to its “unreliable entities list,” which means they will be banned from doing business in China.
Additionally, Chinese customs authorities have imposed a ban on the import of U.S. chicken. These restrictions will take effect on April 10.