It comes as President Donald Trump’s 104 percent tax on Chinese goods came into effect today
China has announced that it is introducing an additional 84 percent tariff on all goods imported into the country from the US.
Markets Reel as Trump’s 104% Tariff on Chinese Goods Takes Effect
A bold new chapter in U.S.-China trade relations unfolded today (April 9), as President Donald Trump’s sweeping 104% tariff on Chinese imports officially kicked in. The hefty new rate includes an additional 50% levy the President vowed to impose on goods from the East Asian powerhouse.
China isn’t staying silent—its own counter-tariffs are set to take effect tomorrow, escalating tensions even further.
The global market reaction was swift and sharp. European stock markets took a heavy hit, with the UK’s FTSE 100 plunging 3.3% by midday. France’s CAC 40 and Germany’s DAX weren’t spared either, each dropping by a striking 4%.
Global Trade War Escalates Ahead of U.S. Market Open
With just under two hours to go before Wall Street opens its doors (9:30am ET), global markets are already feeling the tremors of President Donald Trump’s aggressive new trade policy.
Over the weekend, most of America’s trading partners were slapped with a baseline tariff of at least 10%. And starting today, as many as 60 countries are bracing for steeper tariffs, further fueling international tensions.
In a fiery address dubbed his “Liberation Day” speech, Trump pointed fingers squarely at China and the European Union, labeling them the worst offenders in what he described as decades of economic exploitation. He then unveiled sweeping reciprocal tariffs—20% on EU imports and a dramatic 34% on Chinese goods.
Targeting China: A Timeline of Tariff Tensions
Trump wasted no time after returning to the White House, immediately launching economic salvos at China, Mexico, and Canada—accusing the trio of enabling illegal immigration and drug trafficking into the U.S.
On February 4, the administration imposed an initial 10% tariff on all Chinese imports, a move that sparked swift retaliation from Beijing. Just six days later, China countered with its own set of tariffs:
- 15% on U.S. coal and liquefied natural gas
- 10% on crude oil, agricultural machinery, and large-engine vehicles
As global trade tensions reach a boiling point, all eyes now turn to Wall Street to gauge how investors will react to the rapidly shifting economic landscape.
Tariff Tensions Spiral: U.S.-China Trade Clash Hits Breaking Point
What began as a bold policy shift has rapidly evolved into a full-blown trade showdown between the world’s two largest economies.
After initially imposing a 10% tariff on all Chinese imports in early February, President Trump doubled down on March 4, raising the levy to 20%. The move reignited the tit-for-tat dynamic, with China swiftly retaliating by slapping up to 15% tariffs on key U.S. agricultural exports, including chicken, pork, soybeans, and beef—directly targeting America’s heartland.
In a further escalation, Trump issued a stark warning: the U.S. would apply a 25% tariff on all imports from countries that purchase oil or gas from Venezuela—a clear shot at China, which bought 68% of Venezuela’s oil in 2023, according to PBS.
Then came April 2: Trump confirmed that Chinese imports would now face an additional 34% tax, pushing the total tariff burden to a staggering 54%. But that wasn’t the end.
Today, April 9, the situation reached a fever pitch. A final 50% tariff was slapped on Chinese goods, bringing the overall U.S. import tax on China to an unprecedented 104%.
With China’s next wave of retaliatory tariffs due to hit tomorrow, the global market fallout is only beginning—and the world is watching as economic tensions move from policy to high-stakes pressure.
Tariff Tensions Spiral: U.S.-China Trade Clash Hits Breaking Point
What began as a bold policy shift has rapidly evolved into a full-blown trade showdown between the world’s two largest economies.
After initially imposing a 10% tariff on all Chinese imports in early February, President Trump doubled down on March 4, raising the levy to 20%. The move reignited the tit-for-tat dynamic, with China swiftly retaliating by slapping up to 15% tariffs on key U.S. agricultural exports, including chicken, pork, soybeans, and beef—directly targeting America’s heartland.
In a further escalation, Trump issued a stark warning: the U.S. would apply a 25% tariff on all imports from countries that purchase oil or gas from Venezuela—a clear shot at China, which bought 68% of Venezuela’s oil in 2023, according to PBS.
Then came April 2: Trump confirmed that Chinese imports would now face an additional 34% tax, pushing the total tariff burden to a staggering 54%. But that wasn’t the end.
Today, April 9, the situation reached a fever pitch. A final 50% tariff was slapped on Chinese goods, bringing the overall U.S. import tax on China to an unprecedented 104%.
With China’s next wave of retaliatory tariffs due to hit tomorrow, the global market fallout is only beginning—and the world is watching as economic tensions move from policy to high-stakes pressure.
China Hits Back: Tariff War Turns into Economic Arm Wrestling Match
China wasted no time firing back after President Trump’s jaw-dropping 104% tariff on Chinese imports took effect. Within just 72 hours, Beijing announced a matching 34% tariff on U.S. goods, set to take effect April 10, signaling that the gloves are officially off in this escalating trade battle.
Trump’s answer? Another threat—an additional 50% levy if China doesn’t back down, pushing the total burden to the now-infamous 104% figure. The pressure cooker burst wide open today as China launched a blistering 84% retaliatory tariff on American imports, shocking global markets and business leaders alike.
China’s Commerce Ministry didn’t mince words, slamming the U.S. for “blackmail,” “bullying,” and what it called a “mistake on top of a mistake.“
“China will never accept this,” the ministry declared. “If the U.S. insists on its own way, China will fight to the end.”
Beijing is also taking legal action. A formal complaint has been filed with the World Trade Organization (WTO), accusing the U.S. of serious violations of international trade rules. The move underscores China’s determination to challenge Washington not just with tariffs, but on the global diplomatic stage.
As the tit-for-tat blows continue, the stakes couldn’t be higher—and neither side is blinking.
