China’s finance ministry on Friday said it will impose a 34% tariff on all goods imported from the U.S. starting on April 10.
The ministry criticized Washington’s decision to impose 34% of additional reciprocal levies on China — bringing total U.S. tariffs against the country to 54% — as “inconsistent with international trade rules.”
U.S. stock futures and European markets fell sharply on news of the reciprocal tariffs.