The Chinese “Xinhua” agency announced that Beijing will impose customs duties of 34 percent on all imports coming from the United States, starting from April 10.
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The Chinese finances also decided to impose restrictions on the export of some materials related to rare minerals.
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The Chinese authorities said that they would begin an investigation into the X -ray Medical CT scan imported from the United States and India, and will stop imports of poultry products from two American companies.
The move comes within the framework of the direct Chinese response to US President Donald Trump’s announcement of similar customs duties by 34% on Chinese goods, as part of the most escalating tours between the two largest economies in the world.
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After the Chinese decision was issued, US futures deepened their losses, the S& P500 index fell by more than 2%, and the Nasdaq 100 index fell about 2.3 percent.
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It is widely expected that these mutual measures will deepen global trade tensions, amid increasing concerns about their negative impact on global economic growth and stability of financial markets.
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Tensions between Washington and Beijing have worsened since Trump returned to the White House in January.
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It is worth noting that the American president has not yet spoken with his Chinese counterpart more than two months after he took office. They are also stuck in stagnation about the alleged role of China in the flow of fentanel to America, which was mentioned by Trump as a reason for the previous two rounds of customs duties.
