China retaliates against Donald Trump's tariffs, to impose 34% tax on all US goods

Days after Donald Trump declared reciprocal tariffs on a number of nations, China stated on Friday that it would apply further 34% tariffs on all US goods starting on April 10. Additionally, Beijing declared that starting on April 4, exports of medium and heavy rare earths—materials used in high-tech products like computer chips and batteries for electric vehicles—would be subject to restrictions.

"The purpose of the Chinese government's implementation of export controls on relevant items in accordance with the law is to better safeguard national security and interests and to fulfill international obligations such as non-proliferation," the commerce ministry of China stated in a statement.

According to the Associated Press, the Chinese government recently announced that it would include 27 US corporations on lists of businesses that are subject to export controls or trade sanctions. In addition, Beijing has said that it will sue the World Trade Organization (WTO) over the most recent tariffs.