China has announced a 34% tariff on all U.S. imports starting April 10, in retaliation to U.S. tariffs. Exemptions apply to goods shipped before that date and arriving by May 13. China also blacklisted 11 U.S. firms and imposed export controls on 16 others. The measures are expected to hurt U.S. agriculture and dry bulk trade, while raising concerns of broader economic slowdown.
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Source: Splash 247
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