The move mirrors the 34% tariffs the U.S. placed on China earlier this week.
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00:00Just days after President Donald Trump implemented an additional 34% tariff on all Chinese goods
00:05imported into the United States, China has retaliated.
00:09The Chinese government has now imposed a reciprocal 34% tax on all imports from the U.S.
00:15As it announced the retaliatory tariffs, China made it clear what it thought of Trump's
00:19decision.
00:20This practice of the U.S. is not in line with international trade rules, seriously undermines
00:24China's legitimate rights and interests, and is a typical unilateral bullying practice.
00:29The U.S. had previously imposed two sets of 10% tariffs on China, meaning all Chinese
00:34goods arriving in the U.S. are now subject to tariffs of more than 54%.
00:39The announcement immediately sent U.S. stocks tumbling, with the Dow dropping roughly 1,000
00:43points before markets opened for trading on April 4th.
00:47That'll do it for your daily briefing.
00:48From New York City, I'm Kelsea Barberio with The Street.