PULSE POINTS:

What Happened: China announced a 34 percent tariff on all U.S. imports in response to President Donald J. Trump’s tariffs of the same rate on Chinese goods.

Who’s Involved: President Trump, the Chinese Communist Party (CCP), and affected American companies.

Where & When: China’s tariffs, announced following President Trump’s “Liberation Day” tariff unveiling, go into effect on April 10.

Key Quote: The Chinese Ministry of Finance complained that the U.S. tariffs “undermine global economic development and stability.”

Impact: Declines in stock markets, with the Dow Jones and S&P 500 experiencing losses, but manufacturing will likely be “reshored” to America over the medium to long term.

IN FULL:

China has declared a new 34 percent tariff on all imports from the United States, following President Donald J. Trump’s recent announcement of similar duties on Chinese goods. President Trump is moving to stimulate domestic manufacturing and address trade discrepancies by using tariffs to level the playing field for American businesses.

The Chinese Communist Party (CCP) condemns Trump’s tariffs, claiming they breach international trade standards and threaten global economic interests.

Further complicating trade relations, China enforced export controls on vital rare earth minerals and listed several American businesses as “unreliable entities.” Meanwhile, Trump reinstated 25 percent steel and aluminum tariffs on China in February in order to close loopholes allowing China to dump cheap metals on American markets.

In a recent address, President Trump characterized the imposition of tariffs as a long-overdue correction of an inequitable trade landscape that has persisted over several decades. He asserted that the move heralds the return to American industrial strength, with sweatshop economies and countries that erect their own tariff and non-tariff barriers against American exporters no longer having easy access to the American market.

Reacting to China’s new tariffs on April 4, Trump stated, “China played it wrong, they panicked—the one thing they cannot afford to do!” Trump added that China should have made a deal earlier, urging companies to avoid tariffs by investing in America.

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