After Trump’s 104% levy on Chinese goods, Beijing retaliates with a sweeping 84% tariff hike starting April 10, deepening fears of a global trade freeze.
April 9, 2025: In a sharp escalation of the ongoing trade standoff, China’s Ministry of Finance announced on Wednesday that it will impose 84% tariffs on all US goods, effective from 12:01 AM CST on April 10. This move comes in direct retaliation to US President Donald Trump’s unprecedented 104% tariff hike on Chinese imports.
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The decision marks a steep jump from China’s earlier 34% tariff, announced last Friday alongside export restrictions on rare earth minerals. China had then denounced the US’s move as “arrogant and bullying behaviour.”
Trump’s aggressive tariff plan began with a baseline 10% levy on all countries, citing “national emergency” conditions over trade deficits. He later unveiled a “reciprocal tariff” strategy, demanding other nations match US rates, with China receiving an additional 34% tariff hike—followed swiftly by a stunning 50% hike, bringing the total to 104%.
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While President Trump claimed China was “ripping off” the US economy, Beijing’s counter-move signals a “fight to the end” stance, with no indication yet of readiness to return to the negotiating table.
In a Truth Social post, Trump said,
“China also wants to make a deal, badly, but they don’t know how to get it started. We are waiting for their call.”
China, however, has remained silent on the prospect of renewed talks, unlike other nations seeking exemptions or compromises.
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US Treasury Secretary Scott Bessent responded sharply, calling China “the worst offender in the international trading system,” and warned that “everything is on the table,” including delisting Chinese companies from US stock exchanges.
According to the US Trade Representative’s office, in 2024, the US exported goods worth $143.5 billion to China and imported $438.9 billion, indicating a vast trade imbalance.
The trade war’s fallout is already hitting global markets hard. On Wednesday, major indices across Asia and Europe plunged, while US stock futures (e-minis) saw declines of over 1% across the Dow, S&P 500, and Nasdaq.
Analysts now warn that the world’s two largest economies may be heading for an economic standoff not seen since the Great Depression era, with global trade hanging in the balance.
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China tariffs, Trump tariff policy, US-China trade war, global markets crash, 2025 trade war, Beijing retaliates, US exports, reciprocal tariffs, economic crisis, Trump China policy, global trade disruption, Scott Bessent, Truth Social, US stock market, rare earths export ban