- By Imran Zafar
- Fri, 04 Apr 2025 07:36 PM (IST)
- Source:JND
US President Donald Trump on Friday criticised China’s reaction to new American tariffs, saying Beijing "played it wrong" by retaliating with additional duties. Donald Trump stated that China panicked after the US imposed sweeping tariffs on Chinese imports, adding that panic was the "one thing they cannot afford to do."
Trump's remarks came via a post on his social media platform, Truth Social. "China played it wrong, they panicked - the one thing they cannot afford to do!," he wrote in all caps.
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China’s finance ministry announced that from April 10, it will impose an additional 34 per cent tariff on all US goods in response to Washington's latest trade measures. The move matches the US tariff rate of 34 per cent on Chinese exports imposed earlier this week. Additionally, Beijing's Commerce Ministry stated that it would introduce further export controls on rare earth materials, essential for producing high-tech items such as computer chips and electric vehicle batteries.
China Files WTO Complaint Against US Tariffs
China also lodged a formal complaint with the World Trade Organization (WTO) over the latest US tariffs, arguing that the measures violate international trade rules. The complaint, filed on Friday, seeks consultations to address the dispute.
In a statement, China’s Permanent Mission to the WTO confirmed the filing, stating that the new tariffs imposed by Washington blatantly violate WTO regulations. Beijing has repeatedly criticised US trade policies, calling them unfair and harmful to global trade stability.
Markets React To Escalating Trade War
The escalating trade tensions rattled global financial markets, with US stocks set to open sharply lower on Friday. Wall Street faced another wave of sell-offs amid fears of an economic downturn. Analysts warn that prolonged tariff battles between the world’s two largest economies could trigger inflation and disrupt global supply chains, affecting industries worldwide.