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.

Related World News

Iran Claims to Have Shot Down America's Most Dangerous Fighter Jet and Taken the F-35 Pilot Hostage

TEHRAN: Iran carried out a strong counterattack after US strikes on the country's medical center and a highly important bridge. On Friday, Iran claimed to have shot down two American fighter jets, including the deadly F-35, and reports say it has also taken the pilot of the downed American fig....

Afghanistan Conducts Surgical Strike on Pakistan,3 Pakistani Soldiers Killed

KABUL: The Afghan Army crossed the Durand Line on the Pakistan-Afghanistan border and carried out a major attack on Pakistani military positions near the Khost-Kurram border. This operation is being viewed as a surgical strike.During the attack, Afghan forces set ablaze a Pakistani military ba....

29 dead as Russian An-26 military transport plane crashes in Crimea

At least six crew members and 23 passengers were killed when a Russian An?26 military transport aircraft crashed in Crimea, according to reports. Reports said that the aircraft collided with a cliff. The plane lost contact during a scheduled flight over the Crimean Peninsula on Tuesday e....

Iran appoints Mohammad Bagher Zolghadr as new Security Chief

TEHRAN: Iran has appointed a new head for its Supreme National Security Council. The new security chief will replace Ali Larijani, who was killed in an Israeli airstrike on 17 March. Iran’s semi-official news agency Mehr, quoting the President’s office, reported that Mohammad Bagher Zolg....

Trump's claim:Talks with Tehran ongoing, no attack on power plants for 5 days; Iran says: America backed down out of fear

(Fast Mail News):--US President Donald Trump made a major announcement today, claiming that talks with Iran are continuing, and as a result, America will not carry out any attack on its energy plants for the next 5 days. Meanwhile, Iran denied any talks and stated that the US President backed ....