China Raises Retaliatory Tariffs On US Goods To 84%

The New York Times reports:

The Chinese government announced that it was putting an additional 50 percent tariff on imports from the United States, matching the extra 50 percent that Trump had imposed to retaliate for an earlier move by China.

President Trump’s latest tariffs took effect just after midnight on Wednesday, hitting nearly all U.S. allies with punishing new levies and raising import taxes on Chinese goods to more than 100 percent.

China hit back with its own levies, which will kick in at noon Eastern, and the European Union was poised to approve a plan to retaliate for Mr. Trump’s steel and aluminum tariffs. The flurry of moves has heightened fears that the trade war could lead to a global recession.

Read the full article.

BREAKING: China has announced an additional 84% tariff on U.S. goods starting April 10th—on top of the existing 34%, bringing the total to a staggering 118%. We may be witnessing the World War III of trade wars. Buckle up. pic.twitter.com/5RBjQ6BYST

— iFinance (@iFinance) April 9, 2025