Trump Responds to China’s Tariff Hike: ‘They Panicked’

US President Donald Trump on Friday sharply criticized China's latest move to impose an additional 34% tariff on all American goods, calling it a sign of panic from Beijing. "China played it wrong, they panicked - the one thing they cannot afford to do!" Trump wrote on Truth Social.

Earlier in the day, China's finance ministry announced that starting April 10, all US-origin imports would be subject to an added 34% tariff, on top of existing duties. The escalation comes in response to Trump's recent announcement of reciprocal tariffs on several countries, including China. Under the new US measures, Chinese goods now face a total of 54% in new tariffs this year.

The decision sent shockwaves through global markets. However, President Trump stood firm, stating that such reactions were inevitable. "Taxpayers have been ripped off for more than 50 years, but it is not going to happen anymore," he said during a briefing at the White House.

China Imposes Export Curbs, Targets US Companies

In addition to the tariff hike, Beijing also announced new restrictions on the export of medium and heavy rare earth elements, which are vital for high-tech industries like semiconductors and electric vehicles. These restrictions will take effect from April 4.

China is the world's dominant supplier of refined rare earths, accounting for nearly 90% of global output. The US remains heavily dependent on these imports, making the move especially significant. Beijing also added around 30 US organizations - mostly defense-related - to its sanctions list, in addition to over two dozen already penalized since the tariff conflict began.

In a further retaliatory measure, Chinese customs suspended poultry imports from Mountaire Farms of Delaware and Coastal Processing, citing repeated detection of furazolidone - a banned substance in China - in their shipments.

The developments mark a sharp escalation in trade tensions between the US and China, with high-stakes consequences for industries, consumers, and global supply chains.