In response to Beijing's 34 percent tariffs on all American goods, US President Donald Trump said that "China made a mistake" and "panicked."
"China made a mistake and panicked—the only thing they can't afford," he wrote on his social media page.
The decision to impose retaliatory tariffs was announced earlier by the State Council of the PRC. No exceptions will be made for any American goods.
In addition, the Chinese Ministry of Commerce has imposed several restrictions on American companies: 11 are now included in the list of unreliable entities for military cooperation with Taiwan, and 16 are on the export control list. Thus, Beijing will control the supply of dual-use goods.
