China announced a raft of additional tariffs and restrictions on American goods on Friday in retaliation against the sweeping tariffs imposed by President Donald Trump. Beijing said that, starting April 10, it would impose additional tariffs of 34 percent on all U.S. products. The Chinese Communist Party (CCP) also unveiled controls on exports of rare-earth elements to the United States, including samarium, gadolinium, terbium, dysprosium, lutetium, scandium, and yttrium, effective from Friday.
President Donald Trump said on April 3 that he would potentially consider an agreement where China agrees to approve the sale of social media platform TikTok from its parent company ByteDance in return for relief from the tariffs he recently imposed on the nation’s imports. Trump said the TikTok sale is an example of how he could use tariffs as negotiation tactics with other nations.
Leave a Comment