China imposes tariffs

CHINA has announced it will introduce a 34% tariff on imports of all US products, starting on April 10.

- 

The new tariff matches the rate of the US "reciprocal" tariff imposed by American President Donald Trump this week.

Beijing's commerce ministry also said it will impose more export controls on rare earths, which are materials used in high-tech products such as computer chips and electric vehicle batteries. Included in the list of minerals subject to controls was samarium and its compounds, which are used in aerospace manufacturing and the defence sector. Another element, called gadolinium, is used in MRI scans.

The Chinese government, led by president Xi Jinping, also said it would add 27 US companies to a list of companies subject to trade sanctions or export controls.