China Enforces 84% Tariffs on U.S. Imports Amid Growing Trade Conflict
On Thursday, China implemented an 84% tariff on U.S. goods in retaliation for President Donald Trump’s decision to hike tariffs on Chinese imports. This move marks the latest escalation in the ongoing trade war between the two economic giants.
China’s retaliatory actions began with an initial 34% tariff following Trump’s first wave of tariffs. Despite Trump’s warning to revoke these tariffs or face additional increases, China continued to push back. As U.S. tariffs escalated to 104%, China responded by imposing an 84% tariff on U.S. products. On Wednesday, Trump raised tariffs further to 125%, escalating the tension between the nations.
In addition to the tariffs, China has placed 18 U.S. companies on a trade restriction list, and other countermeasures are being implemented. The trade war shows no sign of easing in the near future.
In an effort to minimize the impact of U.S. tariffs, China is reportedly seeking to strengthen trade relations with other countries. President Xi Jinping is set to visit several Southeast Asian nations, including Malaysia, next week.
Meanwhile, China has also engaged in discussions with the European Union to fortify multilateral trade. In a virtual meeting between China’s Commerce Minister Wang Wentao and European Commissioner Maros Sefcovic, both parties expressed a commitment to preserving the World Trade Organization (WTO) system. They discussed the challenges posed by U.S. tariffs and agreed to collaborate with other WTO members to maintain stable international trade.
