China retaliates with 34% tariff on all US imports

AI summary

Display highlights

• China imposes 34% tariff on US imports from April 10
• Enhanced export controls on rare earths and banned substances detection
• Suspension of chicken imports from specific US suppliers
• Addition of companies to trade sanctions lists
• Filing a lawsuit with the WTO over tariffs issue

360 summaryCollapse all

China's Response to US Tariffs

• China filed a lawsuit with the World Trade Organization, citing violation of WTO rules by the US.
• In addition to imposing tariffs, China enhanced export controls on rare earths and suspended chicken imports from specific US suppliers due to banned substances.
• China firmly opposes what it considers a unilateral bullying practice that endangers the global economic and trade order.

Source

HuffPost

Impact of China's Tariffs on US Businesses

• China has added 11 American businesses to its "Unreliable Entity List" due to alleged military and technological cooperation with Taiwan, restricting their activities in China.
• Chinese customs have suspended imports of sorghums from C&D (USA) Inc, as well as poultry and bonemeal from three US firms, affecting agriculture trade between the two countries.
• Beijing has initiated an anti-dumping probe into imports of certain medical CT tubes from the US and India, indicating a broader industry competitiveness investigation in this sector.

Source

theverge.com

ALJAZEERA

Investors Urged to Act Before Deadline in SoundHound Securities Class Action

Business and Finance9 hours ago

YouTuber Faces Jail for Contact Attempt with Isolated Tribe

Society18 hours ago

Ovechkin Inches Closer to Gretzky's Record with Goal 893

Society3 hours ago