Donald Trump reacts to China’s 34% tariff move: ‘Played it wrong, panicked’ | World News

US President Donald Trump on Friday reacted to China’s decision to impose an additional 34% tariff on all US goods, saying that “they cannot afford to do it.”

“China played it wrong, they panicked – The one thing they cannot afford to do!” Trump wrote on Truth Social.

Earlier today, China announced that it would impose additional tariffs of 34% on all US goods from April 10.

“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.

The move by Beijing comes days after Donald Trump announced reciprocal tariffs on several countries, including China. The Trump administration imposed an additional 34% tariffs on Chinese goods, bringing the total new levies this year to 54%.

The announcement jolted markets worldwide, but Trump said that was to be expected.

“Taxpayers have been ripped off for more than 50 years,” the US president said while announcing the tariffs at the White House. “But it is not going to happen anymore.”

What China announced

In addition to the 34% tariff on all US goods, Beijing also announced curbs on the export of medium and heavy rare earths, which are materials used in high-tech products such as computer chips and electric vehicle batteries. These will be effective from April 4.

Notably, China accounts for approximately 90% of the world’s refined rare earth production, with the US relying heavily on China for its imports.

China imposed restrictions on about 30 US organisations, mostly in defence-related industries. This adds to the two dozen US companies already punished over Trump’s tariffs, according to Reuters.

China’s customs administration also suspended imports of chicken from two US suppliers – Mountaire Farms of Delaware and Coastal Processing, reported the Associated Press.

It claimed Chinese customs had repeatedly detected furazolidone, a drug banned in China, in shipments from those companies.

(Inputs from agencies)