China To Raise Tariffs By 34% On US Products Starting April 10

China announced on Friday that it would impose 34 percent tariffs on all U.S. imports starting on April 10 in response to Washington’s steep new tariffs on Chinese goods.

“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 Organisation (WTO) over tariffs, the ministry said.

US President Donald Trump ignited a potentially ruinous global trade war this week by imposing 10 percent levies on imports from around the world and harsh extra duties on key trading partners.

Trump unveiled particularly stinging tariffs of 34 percent on China, one of its largest trading partners, on top of existing levies.

China swiftly vowed “countermeasures” to protect its rights and interests.