Overview

• The Chinese government has declared 34% retaliatory tariffs on US imports, set to take effect on April 10, 2025.
• China has imposed export controls on seven rare earth elements vital to high-tech and defense industries, escalating its strategic response.
• Eleven US companies have been blacklisted by China, restricting their ability to trade in or with the country.
• Global financial markets have suffered significant losses, with major indices like the DAX and Wall Street experiencing sharp declines.
• The US has hinted at potential tariff reductions, tied to unrelated conditions such as the sale of TikTok, but tensions remain high with no resolution in sight.