China announces the imposition of tariffs on 34% of products imported from the US in the face of Trump's measures

Published at: 04/04/2025 09:28 AM

This Friday, the government of Xi Jinping in the People's Republic of China announced that it will apply tariffs of 34% to all imports of goods from the United States (USA) starting April 10 in response to Washington's tariffs on products from the Asian giant.

The Chinese Ministry of Commerce announced the measure that will impose tariffs and export controls on seven rare earth elements, including gadolinium, which is used for magnetic resonance imaging, and yttrium, used in consumer electronics.

As a result of these measures, Wall Street futures, oil and stock markets in Europe fall.

Around 10:30 GMT, S&P 500 futures fell 1.36%, NASDAQ futures fell 1.31% and Dow Jones futures lost 1.52%. Meanwhile, oil yields more than 5%.

Mazo News Team