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Beijing isn't hesitating and is responding harshly to the new US tariffs. Imports from the US will be subject to duties equal to Trump's tariffs. Further trade restrictions will be added. While the door to negotiations remains open, the stock market is in shock.China is escalating its trade war with the US. An additional 34 percent tariff will now also be imposed on all US goods, the Ministry of Finance in Beijing announced. This tariff is to take effect on April 10.Export controls on seven rare earths will also be introduced, the Chinese Ministry of Commerce announced. These include gadolinium, used in magnetic resonance imaging, and yttrium, used in electronic devices. The controls are expected to take effect later today. Rare earths are essential for many high-tech products such as cell phones and also in the defense industry.The ministry also placed more than two dozen US companies on its export control blacklist. Eleven were classified as "unreliable" companies. This allows the government to take punitive measures.
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Last
9.8¢ |
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Mkt cap ! $91.26M | |||
| Open | High | Low | Value | Volume |
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