China Strikes Back with 84% Tariffs on US Goods: Strong Retaliation Against US's 104%
1. China Responds Aggressively: 84% Tariffs on US Imports
On April 10, 2025, China officially raised its tariffs on US goods from 34% to 84%, just hours after the US imposed a record-breaking 104% duty on Chinese products. This sharp escalation signals Beijing's firm stance to defend national interests and sovereignty in trade.
China’s Ministry of Finance condemned the US tariffs as "serious mistakes" that violate international trade norms. At the same time, China filed an official complaint with the WTO, demanding the immediate removal of all unilateral US tariffs.
2. Beyond Tariffs: China Tightens Control on US Companies
In parallel with tariff hikes, China expanded its economic countermeasures by adding 12 US companies to its export control list and 6 others to its unreliable entities list. These companies are banned from participating in import, export, and investment activities related to China.
This move disrupts global supply chains, driving up production and operational costs across industries, from high-tech manufacturing to industrial production.
3. Global Financial Markets in Turmoil
The trade war turmoil sent shockwaves through global financial markets. The S&P 500 posted its steepest decline since the 1950s, edging towards bear market territory. Investors fled not only equities but also safe-haven assets like US Treasuries and the US dollar.
The Chinese yuan plummeted under heavy selling pressure, prompting urgent intervention from the People’s Bank of China to stabilize the exchange rate and market sentiment.
4. Global Logistics Under Immense Pressure
Tariff escalations have dramatically increased transportation and import costs between the US and China. Shipping and air freight routes are overwhelmed, while businesses in third-party countries like Vietnam face severe risks of supply chain disruption.
Vietnamese exporters, once hopeful of filling China's role as a transshipment hub, now must reassess their strategies to cope with unprecedented global volatility.
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