China announces 34% tariffs on US imports

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This week, China has announced a 34 percent tariffs on all US imports for retaliation presented by President Donald Trump, passing the world closer to a full trade war.

Global stock markets increased their losses on Friday after the announcement, with futures tracking the S&P 500 by 3.7 percent, and 600 percent in Europe.

China Ministry of Commerce On Friday, the tariff, which corresponds to the latest increase in Trump’s duties on Beijing, will be introduced on all imported goods from April 10, a day after the “return” returns.

Trump’s announcement this week with 34 percent rate Chinese imports in the United States will take Washington’s total levies to more than 60 percent, which it threatened during last year’s election campaign.

Beijing, who previously considered the level of tariffs as the worst scenario, has announced the new US duties as a “typical one -sided mood”.

It adds that this week, US tariffs “do not comply with international trade rules and seriously damage China’s legal rights and interest.”

Beijing’s latest measures probably have the greatest influence on US agriculture exports, including soy, wheat and corn. China It is also a significant importer of pharmaceuticals, crude oil, oil gas and liquefied natural gas to the US.

The trading war comes at a sensitive moment for Chinese President Xi Jinping, which leaned toward export to send the second largest economy in the world by falling and deflationing into real estate.

Trump’s transition to steady tariffs to US trading partners around the world has twisted markets. Thursday approximately 2.5 hours of market value was Strongs from Wall -State And all the dollar profits after the elections were destroyed.

As the drop continued on Friday, FTSE 100 fell by 4 percent and Dax Germany lost 5.6 percent.

Investors intervened in the US TreasuryClicking on a 10-year return of more than 0.2 percentage points a day to just below 3.9 percent, their lowest since the beginning of October.

Beijing is one of the largest goals of “mutual” tariffs Provided by TrumpWhich has already imposed a separate duty of 20 percent on Chinese goods earlier this year.

Andrew Gilcholm, Head of the Chinese Analysis Department at the Consulting Risks, said Beijing could suffer a “major damage” from the complete comparison of the tariffs in the United States, given China’s surplus and tariffs that he is already on the spot.

On Friday, China announced export bans on seven types of rare land, while US technology companies, including drone manufacturers Skydio and Brinc Drones, were added to their list of “unreliable organizations”, which prohibits Chinese components sales to them.