India, April 4 -- US President Donald Trump on Friday reacted to China's decision to impose an additional 34% tariff on all US goods, saying that "they cannot afford to do it."

"China played it wrong, they panicked - The one thing they cannot afford to do!" Trump wrote on Truth Social.

Earlier today, China announced that it would impose additional tariffs of 34% on all US goods from April 10.

"For all imported goods originating from the US, an additional tariff of 34 percent on top of the current applicable tariff rate will be imposed," Beijing's finance ministry said.

The move by Beijing comes days after Donald Trump announced reciprocal tariffs on several countries, including China. The Trump administration imposed an additional 34%...