Trump: China 'played it wrong'
Shafaq News/ US President Donald Trump on Friday said China “played it wrong” in response to new American tariffs, following Beijing’s announcement of a 34% duty on all US imports.
The Chinese Ministry of Finance stated that the new tariffs would take effect on April 10 after the United States introduced a new tariff policy under its “Liberation Day” framework, imposing a 10% base duty on all foreign imports and cumulative tariffs of up to 54% on goods from China.
Trump said he is willing to negotiate to bring the tariff rates down, but only if they “are giving us something that is good.”
Financial markets reacted to the developments. The Dow Jones Industrial Average declined by more than 1,400 points, while the Nasdaq Composite fell by 4.6%.
In a public statement, Trump urged investors to “stay strong” and cited a US Department of Labor report showing 228,000 jobs added in March.
China also announced export controls on select rare earth minerals and filed a complaint with the World Trade Organization, stating that the US measures "violate trade agreements."
The WTO has not yet responded publicly to the complaint.
Economists and international trade observers have expressed concern that the escalating dispute could "impact global supply chains and increase economic uncertainty."
