China hits back at Trump's new tariffs with 34% additional tax, export curbs

China on Friday announced a slew of countermeasures against the "reciprocal tariffs" imposed by U.S. President Donald Trump, including additional tariffs of 34 percent on all U.S. goods and curbs on the export of some rare earths.

The U.S. stock market took a pounding on Friday after China's announcement. The Dow Jones Industrial Average dropped more than 1,000 points lower in early trading on Friday, and the S&P 500 was down 2.8 percent, coming off its worst day since 2020.

- Customs Tariff Commission: additional 34% tariffs

The Customs Tariff Commission of the State Council on Friday announced China will impose additional tariffs of 34 percent on all products imported from the United States, starting from April 10.

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China to impose additional 34% tariffs on all U.S. products from April 10

- Commerce Ministry: lawsuit, export curbs, dual probes

The Chinese Commerce Ministry announced Friday that China had filed a lawsuit with the World Trade Organization (WTO) over the issue.

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China files lawsuit with WTO following U.S. slapping of 'reciprocal tariffs' on trading partners

Meanwhile, the ministry also decided to add 11 U.S. companies, including drone manufacturer Skydio, to the unreliable entity list and ban the export of dual-use items from China to 16 U.S. entities, including High Point Aerotechnologies.

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China adds 11 U.S. firms to unreliable entity list

China bans export of dual-use items to 16 U.S. entities

The ministry also said on Friday that it has launched an anti-dumping probe into certain imports of medical computed tomography (CT) tubes originating from the U.S. and India, as well as a separate industrial competitiveness investigation into broader imports of medical CT tubes.

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China launches anti-dumping probe into imports of medical CT tubes from U.S., India: commerce ministry

Moreover, China's Ministry of Commerce and General Administration of Customs (GAC) on Friday jointly announced export control measures on certain items related to seven types of medium and heavy rare earths.

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China announces export control measures on certain rare earth-related items

- General Administration of Customs: import qualifications suspended

The GAC on Friday suspended the import qualifications for products of six U.S. companies due to inspection and quarantine issues with their goods.

Read more: China suspends import qualifications for products of six U.S. firms