Trump’s Trade War Escalates as China Retaliates With 34% Tariffs - The New York Times

Key Actions by China

China responded to President Trump's tariffs with a series of retaliatory measures, including imposing 34 percent tariffs on US goods.

• Matching Tariffs: China mirrored Trump's 34 percent tariffs on Chinese imports.
• Targeting Companies: Eleven US companies were added to China's list of "unreliable entities," restricting their business operations in China.
• Export Restrictions: China implemented a licensing system to control exports of seven rare earth elements crucial for various industries.
• Trade Investigations: Two trade investigations were launched targeting US medical imaging equipment exports.
• Agricultural Sanctions: Chicken imports from five major US exporters and sorghum imports from one company were halted.

Economic Imbalance

The new tariffs will affect fewer Chinese goods than US goods due to the trade imbalance; China's exports to the US significantly exceed its imports from the US. In 2024, China's imports from the US totalled $147.8 billion, while its exports to the US reached $426.9 billion.