China to impose 34% tariffs on all US goods from April 10

China on Friday announced a slew of additional tariffs and restrictions against US goods as a countermeasure to sweeping tariffs imposed by US President Donald Trump.

The Finance Ministry said it would impose additional tariffs of 34% on all US goods from April 10.

Beijing also announced controls on exports of medium and heavy rare-earths, including samarium, gadolinium, terbium, dysprosium, lutetium, scandium and yttrium to the United States, effective April 4.

"The purpose of the Chinese government's implementation of export controls on relevant items in accordance with the law is to better safeguard national security and interests, and to fulfill international obligations such as non-proliferation," the Commerce Ministry said in a statement.

It also added 11 entities to the "unreliable entity" list, which allows Beijing to take punitive actions against foreign entities.

China, earlier this week faced a 34% tariff.

China’s commerce ministry called the move “damaging to global growth,” and pledged retaliatory measures. Beijing may target rare earth exports and devalue its currency in response.

The closure of the “de minimus” tariff exemption – used by Chinese e-commerce platforms like Shein – is expected to further squeeze Chinese exporters.