On Apr. 2, President Donald Trump announced a 34% tariff on Chinese imports as part of a new trade policy. The tariffs will start with a 10% baseline rate on Apr. 5, followed by an additional 24% on Apr, 9.

Trump claimed that China currently imposes a 67% combined rate on trade with the US due to tariffs, currency manipulation, and other barriers.

He also signed an executive order ending duty exemptions for low-value shipments from China, starting May 2.

In response, China’s embassy criticized the new tariffs, stating that “Protectionism leads nowhere, and trade and tariff wars have no winners.”

Historically, China has retaliated against US tariffs by imposing duties on American products and restricting US companies.

The full impact of these tariffs on US consumers, industries, and Chinese manufacturers is still being assessed, with potential economic challenges for US countries that depend on exports to China.