WATCH THE VIDEO HERE China has announced a sharp escalation in its trade dispute with the United States, imposing 34% tariffs on all U.S. imports in retaliation for President Donald Trump’s latest round of duties. The new tariffs, which match Trump’s recent increase, will take effect on April 10, just one day after the U.S. implements its own “reciprocal” levies. This move pushes the two largest economies closer to a full-blown trade war. The announcement sent shockwaves through global financial markets. The Ministry of Commerce in China denounced the U.S. tariffs as “a typical unilateral bullying move” that violates international trade rules and “seriously damages the legitimate rights and interests of China.” The trade war comes at a precarious time for Chinese President Xi Jinping, who has relied heavily on exports to stabilize the world’s second-largest economy amid a property sector slump and deflationary pressures. Trump’s aggressive tariff strategy has also disrupted global markets. On Thursday alone, approximately $2.5 trillion in market value was wiped out from Wall Street stocks, erasing all of the dollar’s post-election gains. The ripple effects have left businesses and investors grappling with uncertainty, particularly those with supply chains rooted in China.
China retaliates with 34% tariffs on US imports, escalating trade war
