- China’s finance ministry on Friday said it will impose a 34% tariff on all goods imported from the U.S. starting on April 10.
- The ministry criticized Washington’s decision to impose 34% of additional reciprocal levies on China — bringing total U.S. tariffs against the country to 54% — as “inconsistent with international trade rules.”
- U.S. stock futures and European markets fell sharply on news of the reciprocal tariffs.
It’s well understood by business people (at least by competent ones) that if you do something that makes your customer leave, they dont come back.