Skip to content

China Is Not Backing Down, Hits Back With 84% Tariff On U.S. Goods

An assistant stands next to China's and USA's flags before a meeting between US Treasury Secretary Janet Yellen and China's Vice Premier He Lifeng in the southern Chinese city of Guangzhou, on April 5, 2024

China is escalating its trade standoff with the United States, announcing it will impose 84% tariffs on U.S. goods starting Thursday, up from an earlier planned 34%. The move comes in response to President Trump’s imposition of reciprocal tariffs, including a staggering 104% on Chinese products. China expressed strong opposition to the tariffs, warning the World Trade Organization (WTO) that they could destabilize global trade.

In a statement to the WTO, China argued that such measures violate international trade rules and warned they would ultimately harm the U.S. itself, rather than addressing trade imbalances. China’s firm stance signals its unwillingness to back down despite mounting economic pressures.

Comments

Latest

Is The US Economy Headed For A Bust?

Is The US Economy Headed For A Bust?

The sharp decline in the yearly momentum of money supply is starting to hurt various activities that emerged on the back of the huge increases in the money supply between August 2019 and February 2021—from minus 1 percent to 79 percent

Members Public