US President Donald Trump on Friday taunted a “panicked” China, stating that they had “played it wrong” after Beijing retaliated to new US tariffs by announcing an additional 34 per cent duty on US goods.
“China played it wrong, they panicked – the one thing they cannot afford to do!” Trump wrote on social media Truth Social.
Earlier, China announced a 34 per cent additional tariff on imports from the US in response to Trump’s move to impose a similar levy on Chinese goods.
Beijing also declared export controls on certain rare earth metals, aiming to hit American defence, computer, and smartphone industries.
The tariffs on all products imported from the US will be imposed from April 10, the Customs Tariff Commission of the State Council announced on Friday, PTI reported.
The announcement comes after the US decided to impose “reciprocal tariffs” on Chinese exports to America, a move that the Chinese commission stated violates international trade rules.
It further undermines China’s legitimate rights and interests and is described as a typical act of unilateral bullying, according to the state-run Xinhua news agency.