China on Friday announced a slew of countermeasures against tariffs imposed by President Donald Trump, including additional tariffs of 34 per cent on all US goods and curbs on export of some rare earths, deepening an escalating trade war.
China’s finance ministry said the additional tariffs would be imposed from April 10.
Trump on Wednesday announced that China would be hit with a 34pc tariff, on top of the 20pc he imposed earlier this year, bringing the total new levies to 54pc.
Agriculture trade took another hit as Chinese customs imposed an immediate suspension on imports of sorghums from grain exporter C&D (USA) Inc, as well as poultry and bonemeal from three US firms.
Beijing also announced controls on exports of medium and heavy rare-earths, including samarium, gadolinium, terbium, dysprosium, lutetium, scandium and yttrium to the US, effective April 4.
The statement called the US’ reciprocal tariffs one-sided “bullying,” adding that they violate international trade rules and harm China’s rights and interests, Anadolu Agency reported.
“The purpose of the Chinese government’s implementation of export controls on relevant items in accordance with the law is to better safeguard national security and interests, and to fulfil international obligations such as non-proliferation,” the commerce ministry said in a statement.
It also added 16 US entities to its export control list, which prohibits the export of dual-use items to affected firms.
Another 11 US firms were added to the “unreliable entities” list, which allows Beijing to take punitive action against foreign entities. The targeted firms includes Skydio Inx and BRINC Drones over arms sales to democratically governed Taiwan, which China claims as part of its territory.
The commerce ministry said the targeted companies seriously “undermined” China’s national sovereignty, security and development interests and would be prohibited from new investments, import and export activities in China.
It also launched an anti-dumping probe into imports of certain medical CT tubes from the US and India, and a wider industry competitiveness investigation into imports of medical CT tubes.
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Additional input from Anadolu Agency
