China has announced an 84 percent tariff on all U.S. imports in response to President Donald Trump’s new 104 percent tax on Chinese goods, which came into effect April 9.
Trump initially imposed a 50 percent increase, bringing total tariffs on Chinese imports to 104 percent. China’s retaliatory measure will begin April 10.
European markets reacted negatively to the escalating trade war, with major indices like the FTSE 100, France’s CAC 40, and Germany’s DAX all dropping sharply. U.S. markets have yet to open.
The trade tension marks a new chapter in the ongoing economic conflict between Trump and Chinese President Xi Jinping. China’s Commerce Ministry condemned the U.S. move as “blackmail” and filed a complaint with the World Trade Organization.
Trump warned that any retaliatory action would trigger more tariffs. As tensions escalate, both nations appear poised to continue their economic standoff.
