China’s Ministry of Finance on Friday announced plans to levy sweeping new tariffs on all U.S. imports.
The ministry said it will enact a 34% tariff on all goods imported from the U.S. beginning April 10, according to a statement written in Chinese. The announcement comes after President Donald Trump on Wednesday announced massive tariffs on imports from foreign countries, including a 34% tariff on China, as part of what he deemed “Liberation Day.”
“China urges the United States to immediately cancel its unilateral tariff measures and resolve trade differences through consultation in an equal, respectful and mutually beneficial manner,” the ministry said in a Thursday statement, according to a Google translation, CNBC reported. (RELATED: ‘I Never Met A Tax Cut I Didn’t Like’: Kudlow Examines Possible Benefits And Pitfalls Of Trump Tariffs)
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