Chinese tariffs on US imports/Trump: China made a mistake

US President Donald Trump reacted this afternoon, shortly after China announced that it would impose reciprocal tariffs of 34% on all imports from the US starting April 10. This decision is believed to be fueling the trade war between the world's two largest economies.

Trump, in his response, said that China "played it wrong."

Trump vowed this morning to continue his economic policies, as US stocks suffered significant swings. While US job growth beat expectations last month, tariff anxiety continues to drive market sentiment amid fears of a global recession.

On Wednesday, Trump announced that China would be hit with a 34 percent tariff, on top of the 20 percent he imposed earlier this year, bringing the total of new taxes to 54 percent.

Meanwhile, on Friday, China's Finance Ministry said the additional tariffs would be imposed from the next week of April. Beijing previously imposed 15 percent tariffs on imports of coal and liquefied natural gas from the United States in response to Washington's 10 percent tariffs on Chinese goods.

"The purpose of the Chinese government's implementation of export controls on relevant items in accordance with the law is to better protect national security and interests and fulfill international obligations such as non-proliferation," the Ministry of Commerce said in a statement./CNA

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