China announced it will impose a 34% tariff on all US imports in retaliation for the US imposing additional 34% tariffs on Chinese products. The measure takes effect on April 10, and cargo shipped to the US before that date will not be subject to additional tariffs if imported by midnight on May 13. China also announced a ban on exports of dual-use goods to 16 US defense contractors and export controls on seven rare earth elements including samarium and gadolinium. The US-China trade dispute is expected to intensify.
