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China on Friday revealed a variety of countermeasures versus the reciprocal tariffs imposed by U.S.
President Donald Trump, including additional tariffs of 34 percent on all U.S.
products and curbs on the export of some rare earths.The U.S.
stock market took a pounding on Friday after Chinas statement.
The Dow Jones Industrial Average dropped more than 1,000 points lower in early trading on Friday, and the S-P 500 was down 2.8 percent, coming off its worst day because 2020.- Customs Tariff Commission: extra 34% tariffsThe Customs Tariff Commission of the State Council on Friday announced China will impose extra tariffs of 34 percent on all products imported from the United States, beginning with April 10.
Learn more: China to enforce extra 34% tariffs on all U.S.
products from April 10- Commerce Ministry: claim, export curbs, dual probesThe Chinese Commerce Ministry revealed Friday that China had filed a suit with the World Trade Organization (WTO) over the issue.Read more: China files suit with WTO following U.S.
slapping of reciprocal tariffs on trading partnersMeanwhile, the ministry also decided to add 11 U.S.
companies, consisting of drone maker Skydio, to the unreliable entity list and ban the export of dual-use items from China to 16 U.S.
entities, consisting of High Point Aerotechnologies.Read more: China adds 11 U.S.
companies to undependable entity listChina bans export of dual-use products to 16 U.S.
entitiesThe ministry also stated on Friday that it has actually launched an anti-dumping probe into certain imports of medical computed tomography (CT) tubes originating from the U.S.
and India, in addition to a different industrial competitiveness investigation into wider imports of medical CT tubes.Read more: China launches anti-dumping probe into imports of medical CT tubes from U.S., India: commerce ministryMoreover, Chinas Ministry of Commerce and General Administration of Customs (GAC) on Friday collectively revealed export control measures on particular products related to 7 kinds of medium and heavy uncommon earths.Read more: China announces export control procedures on certain unusual earth-related items- General Administration of Customs: import credentials suspendedThe GAC on Friday suspended the import qualifications for items of six U.S.
business due to examination and quarantine concerns with their goods.Read more: China suspends import credentials for products of 6 U.S.
firms
