Trade War Begins ! China Imposes 34 Percent Additional Tariff on US Imports

BEIJING/WASHINGTON: China has decided to impose an additional 34 percent tariff on all products imported from the United States starting April 10, raising the risk of an all-out trade war.

China’s Customs Tariff Commission in a statement said that this step comes in response to a US decision in which Washington declared the imposition of "reciprocal tariffs" on Chinese exports.

According to reports,China’s Customs Tariff Commission stated that the US move is not in line with international trade rules, severely harms China’s legitimate rights and interests, and is an action aimed at exerting unilateral pressure.

China’s Ministry of Commerce said it is adding 11 US companies to its "unreliable entities" list, barring them from doing business in China or with Chinese companies.

The ministry has also imposed strict restrictions on the export of certain rare earth materials, such as gadolinium and yttrium, which are primarily mined in China and used in everything from electric cars to smart bombs.

US President Donald Trump announced a 54 percent reciprocal tariff on China, which includes previously imposed duties. This has made China one of the most affected countries on the tariff list.

Global investment bank JP Morgan stated that there is now a 60 percent chance of the global economy slipping into a recession by the end of 2025, up from a previous estimate of 40 percent.

According to analysts, the reciprocal tariffs imposed by the US will undoubtedly affect all countries, but Indian exporters could benefit more as China faces tariffs of 65 percent or higher.

With an additional 27 percent tariff, India remains in the lower half of targeted countries, potentially opening up new opportunities in traditional export sectors such as engineering goods, electronics, gems and jewelry, textiles, and apparel.

Tariffs could also shift competitiveness in India’s favor in areas where other regional exporters are more severely impacted.

Experts suggest that to maximize this advantage, India will need to not only negotiate with the US to maintain market access but also collaborate with its Free Trade Agreement (FTA) partners in Asia to reorganize supply chains and capitalize on emerging opportunities.

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