In response to the Trump administration’s new tariffs on Chinese imports, China has announced a 34% additional tariff on all U.S. goods, effective from April 10. The Chinese finance ministry confirmed the surcharge will be applied over existing duties. Additionally, China has restricted the export of seven rare minerals, including gadolinium and yttrium. Beijing also plans to file a complaint with the World Trade Organization. This comes as the U.S. imposes a universal 10% tariff on all imports.