China retaliates with tariffs in a bold move against the United States, raising import duties on American products from 34% to a staggering 84%. This decision came immediately after the Trump administration rolled out a fresh round of tariffs on Chinese goods. As tensions rise between the two superpowers, global markets and policymakers brace for economic fallout.

Trade Tensions Escalate as China Retaliates with Tariffs

The announcement from Beijing came on April 10, hours after the US imposed new duties that pushed tariffs on some Chinese imports to more than 104%. In retaliation, China significantly increased its own rates on American goods, marking a new low in the ongoing trade war. Although earlier rounds of tariffs caused concern, this dramatic spike underscores just how serious the dispute has become.

https://whatshappening.pk/nadra-ends-cnic-processing-at-postal-facilities/

According to the US Trade Representative’s Office, America exported $143.5 billion worth of goods to China in 2024, while importing Chinese products valued at $438.9 billion. Clearly, the imbalance is large—but rather than negotiating, both nations seem locked in a cycle of retaliation.

Trump’s Hardline Approach Provokes Sharp Response

Last week, President Donald Trump unveiled a sweeping new tariff policy and warned global partners against taking retaliatory action. However, China retaliates with tariffs, demonstrating its refusal to back down under pressure. While countries like Japan expressed willingness to negotiate, China took a firmer stance, escalating the trade conflict within days.

Speaking to Fox Business, US Treasury Secretary Scott Bessent said, “It’s unfortunate that the Chinese refuse to negotiate. They are the biggest offenders in global trade. Their economy is dangerously unbalanced, and this escalation only hurts them in the long run.” His remarks reflect growing frustration in Washington, where policymakers had hoped for concessions rather than confrontation.

Global Markets Rattle as China Retaliates with Tariffs

Following Beijing’s announcement, stock markets around the world reacted sharply. The S&P 500 dipped nearly 20% from its recent peak, entering bear market territory. Similarly, South Korea’s Kospi Index and markets in Shanghai and Hong Kong also reported steep declines. Investors worry that the ongoing trade war could significantly disrupt global supply chains and corporate earnings.

Analysts now warn that prolonged tension could increase inflation, slow international growth, and affect millions of workers in trade-dependent industries. Moreover, many companies are already considering diversifying their supply chains away from both China and the US, just to avoid further disruptions.

What’s Next as China Retaliates with Tariffs Again?

Although China retaliates with tariffs now, the coming weeks will reveal whether cooler heads can prevail. Both countries have the opportunity to return to the negotiation table and prevent long-term damage. Until then, global businesses and consumers alike must prepare for further economic uncertainty.

STAY UPDATED WITH THE LATEST NEWS. FOLLOW US ON OUR SOCIAL MEDIA CHANNELS:

INSTAGRAM: https://www.instagram.com/whatshappening.pk

FACEBOOK: http://www.facebook.com/whatshappening.pk