Shafaq News/ US President Donald Trump onFriday said China “played it wrong” in response to new American tariffs,following Beijing’s announcement of a 34% duty on all US imports.
The Chinese Ministry of Finance stated that thenew tariffs would take effect on April 10 after the United States introduced anew tariff policy under its “Liberation Day” framework, imposing a 10% baseduty on all foreign imports and cumulative tariffs of up to 54% on goods fromChina.
Trump said he is willing to negotiate to bringthe tariff rates down, but only if they “are giving us something that is good.”
Financial markets reacted to the developments.The Dow Jones Industrial Average declined by more than 1,400 points, while theNasdaq Composite fell by 4.6%.
In a public statement, Trump urged investors to“stay strong” and cited a US Department of Labor report showing 228,000 jobsadded in March.
China also announced export controls on selectrare earth minerals and filed a complaint with the World Trade Organization,stating that the US measures "violate trade agreements."
The WTO has not yet responded publicly to thecomplaint.
Economists and international trade observershave expressed concern that the escalating dispute could "impact globalsupply chains and increase economic uncertainty."
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