In a significant escalation of trade tensions, China will impose additional tariffs of 34 percent on all products imported from the United States, effective April 10. The announcement was made by the Customs Tariff Commission of the State Council on Friday.
This decision comes in response to the U.S. government’s recent move to impose “reciprocal tariffs” on Chinese exports to the United States. The Chinese commission stated that the U.S. action violates international trade rules, undermines China’s legitimate rights and interests, and represents unilateral bullying.
The escalating trade dispute between the world’s two largest economies has raised concerns about global economic stability. Consumers and businesses around the world, especially in developing regions, may feel the impact as prices of goods could fluctuate due to these tariffs.
International leaders and experts are urging both nations to engage in constructive dialogue to resolve their differences. Collaborative efforts are seen as essential to maintaining global economic stability and fostering mutual growth.
