BREAKING: China to Increase Tariffs on U.S. Goods to 84%

In a swift response to escalating trade tensions, China’s Finance Minister has announced an increase in tariffs on U.S. imports, raising the total tariff rate to 84%. These new trade restrictions are set to take effect on Thursday, April 10th, following accusations from Beijing that the White House is engaging in “bullying practices.” This move raises the levy on U.S. imports from the previously set rate of 34%, coinciding with the implementation of President Donald Trump’s 104% tariff on China that took effect today.

As a result, major U.S. indices are experiencing sell-offs, with losses ranging from 1.00% to 1.50%. It’s worth noting that U.S. and Chinese officials are reportedly scheduled to hold negotiation talks today, suggesting that this latest escalation may be a strategic move by China to strengthen its negotiating position and demonstrate its resolve to the U.S. administration.

Tensions between the two nations have intensified this week, following President Trump’s threat to impose an additional 50% tariff on Chinese imports unless Beijing retracts the 34% retaliatory tariffs. In response, China has firmly stated its intention to “fight to the end,” showing no willingness to make concessions and indicating readiness to implement countermeasures.

In addition to the tariffs on China, steeper tariffs on 60 countries identified by Trump as the “worst offenders” in trade practices have also taken effect. Trump has mentioned that impacted countries are reaching out to negotiate, stating they are “kissing my ass” in a bid to discuss terms, even as experts warn that these tariffs could lead to increased prices for consumers.

Market Reactions:

• European markets have dropped further following China’s latest tariff announcement.
• Investors are also selling long-term U.S. government bonds, which are traditionally considered a “safe haven” asset, indicating growing uncertainty in the market.