From www.abc.net.au: China has announced a 34 percent tariff on all US imports in response to President Trump’s recently imposed tariffs on goods from 180 countries, prompting global market turmoil.

Trump claimed China “panicked” and defended his tariff policies while prime ministers from the UK and Australia expressed concerns about the negative implications of an escalating trade war.

China has also implemented export controls on rare-earth materials critical for various industries and added 27 US firms to its trade sanctions list.