China slaps 34% tariffs on U.S.

 

China slaps 34% tariffs on U.S.

China has announced additional tariffs on all U.S. products. The move came in response to the Trump administration's tariff hike. Reuters reports.

Beijing has imposed an additional 34% tariff on all U.S. products. The decision will come into effect from April 10. China has also blacklisted several U.S. companies. Sixteen U.S. companies were added to the export control list. China has also sued the United States at the World Trade Organization.
On the other hand, Canada has imposed a 25% tariff on the United States. "Canadian Prime Minister Mark Carney said," "We are imposing a 25 percent tariff on imported vehicles in the same way that the United States has imposed tariffs on us." ""
On Wednesday, President Trump announced additional tariffs on 185 countries and territories. This led to a selloff in the stock market. The U.S. stock market is at its highest level ever.