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Following President’s Trump’s announcement of tariffs on “Liberation Day,” China has imposed retaliatory tariffs on U.S. goods.

From The Daily Wire. China responded to President Donald Trump’s “Liberation Day” tariffs on Friday by announcing a 34% tariff on all goods imported from the United States.

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The move comes after Trump unveiled a host of tariffs against countries all over the world, including a 34% tariff on China, where about 16% of goods imported into America come from. Trump has said the tariffs are necessary to rebuild American industry and rectify longstanding trade imbalances.

In a statement on Friday, the Chinese Ministry of Finance accused the United States of violating international trade rules with the tariffs. …

China’s tariff on all “goods originating from” America will go into effect on April 10. …

In another action targeting the United States, China put export controls on seven different types of rare earth minerals, placed 11 American companies on its “unreliable entities list,” and added export restrictions on 16 more American companies, CNBC reported.

Like Thursday, stocks again tumbled on Friday after China announced its retaliatory tariff, with the Dow Jones falling 1,679 points and the S&P 500 falling 274 points.

White House Press Secretary Karoline Leavitt said on Thursday that Americans worried about the economy should “trust President Trump.” …

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(Excerpt from The Daily Wire. Photo Credit: Foreign and Commonwealth Office – China State Visit, CC BY 2.0, https://commons.wikimedia.org/w/index.php?curid=44905405)